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The United States Federal Reserve System was established to
1. provide loans to industrialists
2. end the Great Depression
3. provide for a balanced budget
4. regulate the money supply
Congress has attempted to deal with the issue of taxing citizens fairly by enacting a
1. high tariff
2. property tax
3. sales tax
4. graduated income tax
A main purpose of President Theodore Roosevelt’s trustbusting policies was to
1. reduce corruption in government
2. save the nation’s banks
3. encourage competition in business
4. end strikes by labor unions
Since 1913, the United States banking system, interest rates, and the amount of money in
circulation have largely been controlled by the
1. United States Supreme Court
2. Federal Reserve System
3. Federal Deposit Insurance Corporation
4. President’s Council of Economic Advisors
A progressive income tax is based on the idea that
1. taxpayers with larger incomes should be taxed at a higher rate
2. all taxpayers should be taxed equal amounts of money
3. all income should be taxed at the same rate
4. taxation should be used to encourage social programs
A major goal of reformers during the Progressive Era was to
1. end segregation in the South
2. correct the abuses of big business
3. limit immigration from Latin America
4. enact high tariffs to help domestic industry grow
The purpose of the Interstate Commerce Act (1887), the Sherman Antitrust Act (1890), and the
Clayton Antitrust Act (1914) was to
1. eliminate unfair business practices
2. reduce imports from foreign nations
3. reduce the power of the unions
4. increase the power of local governments
Which law was passed as a result of muckraking literature?
1. Interstate Commerce Act
2. Sherman Antitrust Act
3. Meat Inspection Act
4. Federal Reserve Act
Muckrakers contributed to the rise of Progressivism in the early years of the 20th century by
1. challenging big government and urging a return to past conditions
2. exposing widespread corruption in business and government
3. writing favorable biographies about wealthy Americans
4. aligning themselves with the women’s suffrage movement
Which president was known as a trustbuster?
1. George Washington
2. Calvin Coolidge
3. Theodore Roosevelt
4. Dwight Eisenhower
President Woodrow Wilson supported creation of the Federal Reserve System in 1913 to
1. balance the federal budget
2. regulate the amount of money in circulation
3. serve as a source of loans for farmers
4. solve the financial problems of the Great Depression
During the 20th century, federal prosecutions of corporations such as Standard Oil, AT&T, and
Microsoft were based on alleged violations of
1. stock market practices
2. environmental regulations
3. labor union protections
4. antitrust laws