Macroeconomics

The Federal Reserve System began operating in 1914, finally (a) givin

The Federal Reserve System began operating in 1914, finally (a) giving the U.S. its first 100 percent gold-backed paper money. (b) creating a privately-owned system for clearing checks on a national scale. (c) giving the U.S. its first government-owned central bank. (d) giving the U.S. its first unified currency issue, the Federal Reserve Note.   […]

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Date: September 10th, 2020

Under the Bland-Allison Act of 1878, (a) the U.S. Treasury committed

Under the Bland-Allison Act of 1878, (a) the U.S. Treasury committed to buying silver for coins at the current market price. (b) the U.S. Treasury committed to buying gold for coins at a set price. (c) the U.S. was placed on the gold standard. (d) the National Monetary Commission was created.   ANSWER (a)

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Date: September 10th, 2020