Today, the Federal Reserve System attempts to stabilize the economy of the United States by

• requiring federal budgets be prepared and presented to Congress

• levying and collecting income taxes

• regulating interest rates and the money supply

• backing all currency with silver and gold

The Progressive movement supported the idea that federal government should

• regulate big business

• reduce immigration

• build an oversea empire

• reduce the number of farms

Which argument was used by Progressive Era reforms to support he use of graduated income tax?

• Imports should be taxed to make foreign goods more expensive than domestic goods

• Taxes on corporations should be reduced so jobs can be created

• People who earn more money should pay taxes at higher rates

• All citizens should be taxed at the same rate to treat all people equally

The Federal Reserve System was created in 1913 to

• regulate the money supply

• operate mints to coin money

• collect tax revenues

• protect deposits in savings banks

"Governor Defeated in Recall Election"

"Referendum Held on Term Limits"

"Conservationists Propose Initiative on National Parks"

These headlines are all examples of Progressive Era reforms designed to

• place more power in the hands of the voters

• strengthen the power of state legislatures

• decrease States rights and increase federal power

• exclude specific ethnic groups from the political process

A major reason for the creation of the Federal Reserve System (1913) was to

• regulate the supply of money in the economy

• lend money directly to consumers at low interest rates

• finance public works projects

• invest government money in private industries

Primaries, the secret ballot, and the use of referendum and recall were efforts made during the Progressive Era to

• preserve the power of political machines

• provide equal political rights for Native American Indians

• protect States rights against federal power

• increase citizen participation in government

The Federal Reserve system was created to

• stimulate trade with other nations

• regulate the stock market

• control the money supply

• fund public works projects

What was the purpose of state adopting initiative, referendum, and recall during the Progressive Era?

• supporting new political parties

• increasing the power of voters over the political process

• reestablishing property qualifications for voting

• extending voting rights to immigrants

During the Progressive Era, direct primary elections were adopted to

• raise additional campaign funds for candidates

• increase the power of voters in the political process

• strengthen the role of political machines

• expand the power of the federal government