Which of the following was an immediate cause of the panic of 1837

A. The first Bank of the United States closed.

B. Congress lowered protective tariffs.

C. The federal government stopped accepting paper money for the purchase of land.

D. President Jackson allocated too much money to the American System.

ANSWER

The correct option is C.

The panic of 1837 was a financial crisis, which occurred in United States of America between 1837 and 1844; it lasted for seven years. On May 1837, the commercial banks in New York city stopped redeeming commercial papers at full face value. This was in obedience to the order of President Jackson that all public lands must be bought with hard money.

engaging in financial planning?

just took my test

hi : ) i found this so i hope this !

"we first find value of tax in dollars.

the difference between the two prices   is: 23. 54 - 22 = 1.54

therefore the sales tax in dollars is 1.54

the tax % will be   (amount of tax / original cost price ) × 100

(1.54 / 22) × 100  → (0.07) × 100 =   7

so the tax rate is 7%

we can double check the answer.

7 % of 22   → (7/100) × 22 → 0.07 × 22 = 1.54

22 + 1.54 = 23.54"