Why Was the U

question 9

Multiple Choice

Why was the U.S. Treasury's decision to issue greenbacks a profoundly important development for the U.S. economy?

• A) It was the first time U.S. currency was backed by precious metals.
• B) It caused runaway inflation for the first time in American history.
• C) It was the first time U.S. currency could not be exchanged for gold or silver and instead relied on public trust in the government.
• D) It entirely eliminated the need for any government taxation during the war.
• E) It subordinated the U.S. dollar to the British pound for the duration of the nineteenth century.

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Definitions:

Acceptance Sampling Plan

A statistical quality control method that determines the number of units from a batch to inspect to decide if the entire batch should be accepted or rejected.

AQL

Acceptable Quality Level is a statistical measurement of the maximum number of defective items considered acceptable in a sample size during quality control testing.

LTPD

Lot Tolerance Percent Defective, a quality control measure indicating the highest defect rate in a lot that consumers are willing to tolerate.