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Creation of a National Bank and Economic Policies Quiz

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Creation of a National Bank and Economic Policies Quiz

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Questions and Answers

What was one of the three parts included in the creation of a National Bank?

Formation of state-specific currencies

Building of canals and roads (correct)

Imposing high taxes on American products

Subsidizing foreign industries

What was the purpose of Protective Tariffs in the context of the National Bank creation?

To generate revenue for the government

To discourage domestic manufacturing

To promote the import of foreign goods

To aid in the growth of American industries (correct)

How would the creation of the second National Bank benefit the country?

By promoting the use of multiple currencies within states

By increasing trade barriers with neighboring countries

By encouraging the use of barter system for trade

By establishing a uniform currency nationwide (correct)

What was one of the purposes of the Infrastructure part in the creation of a National Bank?

To build canals and roads for easier transportation of American goods Signup and view all the answers

How did Protective Tariffs contribute to the creation of a National Bank?

By allowing American industries to grow and buy American products Signup and view all the answers

What was the significance of creating the second National Bank in the context of the country's trade?

It allowed the country to have one currency throughout the country Signup and view all the answers

The creation of a National Bank aimed to establish multiple currencies throughout the country.

False Signup and view all the answers

Protective tariffs were used to support the growth of American industries and the building of the nation's infrastructure.

True Signup and view all the answers

The second National Bank was established to make trade more challenging within the country.