Historically, the U.S. monetary system was:
A) based on the gold standard until the Civil War in the 1860s, when a transfer to fiat money began.
B) a fiat system from its founding and still is a fiat money system.
C) a gold-backed commodity system and still is a commodity system today.
D) based on the gold standard until 1933, when a move toward fiat money began.

Question

Quizplus · Accepted Answer

The U.S. monetary system was based on the gold standard until 1933, when President Franklin D. Roosevelt took the country off the gold standard to help combat the Great Depression, marking a significant move toward a fiat money system.

Historically, the U.S. Monetary System Was