What Was the Result of Jackson's Vetoing of the Bank

question 30

Multiple Choice

What was the result of Jackson's vetoing of the Bank of the United States bill?

• A)It started the industrial revolution.
• B)It caused a prolonged depression.
• C)It stimulated the greatest period of growth the United States has ever seen.
• D)It caused a slight economic recession.
• E)It forced small banks to use solid currency.

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Definitions:

Tariff

A tax imposed by a government on goods and services imported from other countries, aiming to protect domestic industries from foreign competition.

Quota

A government-imposed trade restriction limiting the number or monetary value of goods that can be imported or exported.

Nations Trade

The exchange of goods, services, and capital between countries, driven by comparative advantages and specialization.

Frederic Bastiat

A 19th-century French economist and writer known for his advocacy of classical liberalism and his witty criticisms of protectionism.