The Main Problem with the Banking System from 1864 to 1913

question 458

Multiple Choice

The main problem with the banking system from 1864 to 1913 was that:

• A)the Federal Reserve's monetary policy was too restrictive.
• B)government budget deficits destabilized the system.
• C)the money supply was not sufficiently responsive to local economic changes.
• D)the currency was not uniform because each bank issued its own notes.

---

Definitions:

Wagner Act

A foundational piece of labor legislation in the United States that established the rights of workers to unionize and engage in collective bargaining.

Scare Tactics

Strategies intended to frighten or intimidate people into behaving in a desired way, often used in advertising, politics, or health campaigns.

Forming Unions

The process of organizing workers into a collective group to negotiate with employers about working conditions, wages, and other employment-related issues.

Sustainable-Wage Jobs

Employment positions that pay wages sufficient for a worker and their family to live a decent and dignified life, ensuring long-term economic sustainability.