What impacts did the decentralization of the U.S. banking system during the Free Banking Era have on the currency in the United States? Select the two correct answers.(1 point)
Responses
The purchasing power currencies issued by state banks varied wildly from state to state.
The purchasing power currencies issued by state banks varied wildly from state to state.
The money supply declined.
The money supply declined.
The amount of loanable funds increased.
The amount of loanable funds increased.
Land was frequently purchased with counterfeit currency.
Land was frequently purchased with counterfeit currency.
Monetary reserves decreased.
The purchasing power of currencies issued by state banks varied wildly from state to state.
Monetary reserves decreased.