During the Revolutionary War, the American colo-nies could
Chapter , Problem 12(choose chapter or problem)
During the Revolutionary War, the American colo-nies could not raise enough tax revenue to fully fund the war effort; to make up the difference, the colonies decided to print more money. Printing money to cover expenditures is sometimes referred to as an inflation tax. Who do you think is being taxed when more money is printed? Why?
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