The development of the market economy led to new financial practices and institutions.
1. Explain the role each of the following played in the emerging market economy:
a. Insurance

b. Banking institutions for turning private savings into venture capital

c. New definitions of property rights and protections against confiscation

d. the Bank of England

a yes vote means: the legislature, with a two-thirds vote, could change daylight saving time if the change is allowed by the federal government. absent any legislative change, california would maintain its current daylight saving time period

answer: a parliamentary system is a system of democratic governance of a state where the executive derives its democratic legitimacy from its ability to command the confidence of the legislature, typically a parliament, and is also held accountable to that parliament. in a parliamentary system, the head of state is usually a person distinct from the head of government. this is in contrast to a presidential system, where the head of state often is also the head of government and, most importantly, the executive does not derive its democratic legitimacy from the legislature.

countries with parliamentary democracies may be constitutional monarchies, where a monarch is the head of state while the head of government is almost always a member of parliament (such as the united kingdom, denmark, sweden, and japan), or parliamentary republics, where a mostly ceremonial president is the head of state while the head of government is regularly from the legislature (such as ireland, germany, india, and italy). in a few parliamentary republics, such as botswana, south africa, and suriname, among some others, the head of government is also head of state, but is elected by and is answerable to parliament. in bicameral parliaments, the head of government is generally, though not always, a member of the lower house.

parliamentarianism is the dominant form of government in europe, with 32 of its 50 sovereign states being parliamentarian. it is also common in the caribbean, being the form of government of 10 of its 13 island states, and in oceania. elsewhere in the world, parliamentary countries are less common, but they are distributed through all continents, most often in former colonies of the british empire that subscribe to a particular brand of parliamentarianism known as the westminster system.

explanation: