Title: QUIZ: Benjamin Franklin and the Birth of the Paper Money Economy
Course: Kelly's Copy-Export Course > Section: Benjamin Franklin and the Birth of the Paper Money Economy

Q: When Franklin arrived in Philadelphia, what did he witness due to the increase in the money supply?
- An increase in commerce, a decrease in jobs, and an increase in population
- A decrease in commerce, a decrease in jobs, and a decrease in population
- An increase in commerce, an increase in jobs, and an increase in population
- An increase in commerce, an increase in jobs, and a decrease in population
A: An increase in commerce, an increase in jobs, and an increase in population

Q: Why did some in the Colonies want to use foreign currency or currency backed by gold or silver?
- They worried that Great Britain would rebel against the Colonies.
- They believed that currency backed by gold or silver was less stable.
- They believed that the Colonies did not have enough gold or silver.
- They worried that Colonial money would lose its value.
A: They worried that Colonial money would lose its value.

Q: What did Franklin argue would happen if there was too much money in the economy?
- The value of money would decrease, and inflation would occur.
- The value of money would increase, and deflation would occur.
- The value of money would increase, and inflation would occur.
- The value of money would decrease, and deflation would occur.
A: The value of money would decrease, and inflation would occur.

Q: What happened to the supply of Continental Dollars in America during the Revolutionary War?
- It decreased because money became worthless.
- It increased to finance the war.
- It stayed the same.
- It decreased because Great Britain increased their money supply.
A: It increased to finance the war.

Q: During the Constitutional Convention, what did the Founding Fathers decide about who could issue currency?
- The power to coin money was left to state governments.
- The power to issue currency was given to only the original Colonies.
- The power to coin money was given to Congress.
- The Founding Fathers did not make any decisions about issuing currency.
A: The power to coin money was given to Congress.