Explain the Concept of a Currency Board

question 47

Essay

Explain the concept of a currency board.

---

Definitions:

Medicaid

A government insurance program for individuals and families with low income and resources, providing health coverage in the United States.

New Deal

A series of programs, public work projects, financial reforms, and regulations enacted by President Franklin D. Roosevelt in the United States during the 1930s to help recover from the Great Depression.

Federal Government

The national government of a federation that holds the authority over the entire nation, responsible for national defense, foreign policy, and federal laws.

Depression

An intense and extended decrease in economic activity, marked by substantial reductions in Gross Domestic Product (GDP), elevated unemployment rates, and deflation.