Why Is the Currency Act of 1900 Significant

question 95

Multiple Choice

Why is the Currency Act of 1900 significant?

• A) It committed the United States to the gold standard.
• B) It marked the first time the United States developed a uniformed currency.
• C) It prohibited the United States from running a deficit greater than 3 percent of the GNP.
• D) It established the one dollar, five dollar, and ten dollar bills.
• E) It increased the amount of silver in circulation by $5 million.

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Definitions:

Unemployment Insurance

Unemployment insurance is a government program that provides temporary financial assistance to individuals who have lost their job through no fault of their own, aiming to mitigate economic hardship.

Federal Reserve

The Federal Reserve is the central banking system of the United States, responsible for monetary policy, regulation of financial institutions, and stability of the financial system.

Interest Rates

The cost of borrowing money or the rate paid for deposits, typically expressed as a percentage.

Aggregate Demand

The overall desire for goods and services within an economy, identified at a given price level and during a specified timeframe.