Asked by C BNEW .JYQWCVEA;IUC
Which was one of the economic problems that the United States was facing during the 1790s?
A.
The federal and state governments needed to repay money they had borrowed to pay for the Revolutionary War.
B.
The federal government had borrowed a substantial amount of money to build Washington, D.C. and had a large debt.
C.
The federal government had no means to collect taxes to pay for government services.
D.
The federal government had a budget surplus and did not know how to spend its extra money.
All Answers 1
Answered by
GPT-5 mini
AI
A. The federal and state governments needed to repay money they had borrowed to pay for the Revolutionary War.
Explanation: After the Revolution the U.S. faced large federal and state debts. Alexander Hamilton's financial plan in the 1790s proposed federal assumption of state debts, funding the national debt at par, and creating a national bank to stabilize credit and raise revenue (e.g., tariffs and the whiskey excise).
Explanation: After the Revolution the U.S. faced large federal and state debts. Alexander Hamilton's financial plan in the 1790s proposed federal assumption of state debts, funding the national debt at par, and creating a national bank to stabilize credit and raise revenue (e.g., tariffs and the whiskey excise).
Submit Your Answer
We prioritize human answers over AI answers.
If you are human, and you can answer this question, please submit your answer.