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14
After the 1865 Contraction Act, what did the Treasury Department do to fix the price level?
They adopted the Democratic approach of holding M constant. The Act was abolished. The US later resumed payment in gold for greenbacks in 1879.
Flashcard info:
Author: savhighsmith
Main topic: Economics
Topic: History of Economics
School / Univ.: UGA
City: Athens
Published: 15.11.2010