When the House of Representatives Passed the Tallmadge Amendment in Response

question 38

Multiple Choice

When the House of Representatives passed the Tallmadge Amendment in response to Missouri's request for admission to the Union, the South thought that the amendment

• A) would threaten the precarious sectional balance in the country.
• B) might keep alive the institution of slavery.
• C) would slow the growth of the West.
• D) would silence the abolitionists.
• E) would keep Maine out of the union.

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Definitions:

Economic Liquidity

The ease with which an asset can be converted into cash without affecting its market price.

U.S. Government Securities

Financial instruments issued by the United States Department of the Treasury to finance the federal government's operations, regarded as safe investments due to government backing.

Financial Crisis

A broad term for a situation where financial assets suddenly lose a large part of their nominal value.

Discount Rate

The interest rate charged by central banks on loans they provide to commercial banks.