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13
What does the 1865 Contraction Act do? What were the effects?
It brought M down quickly and led to a sharp decline in P.
Too severe on debtors. Prices in the US were still higher than the rest of the world.
Too severe on debtors. Prices in the US were still higher than the rest of the world.
Flashcard info:
Author: savhighsmith
Main topic: Economics
Topic: History of Economics
School / Univ.: UGA
City: Athens
Published: 15.11.2010