romikgosai/squad_modified huggingface dataset:
The value of the U.S. dollar declined significantly during wartime, especially during the American Civil War, World War I, and World War II. The Federal Reserve, which was established in 1913, was designed to furnish an "elastic" currency subject to "substantial changes of quantity over short periods", which differed significantly from previous forms of high-powered money such as gold, national bank notes, and silver coins. Over the very long run, the prior gold standard kept prices stable—for instance, the price level and the value of the U.S. dollar in 1914 was not very different from the price level in the 1880s. The Federal Reserve initially succeeded in maintaining the value of the U.S. dollar and price stability, reversing the inflation caused by the First World War and stabilizing the value of the dollar during the 1920s, before presiding over a 30% deflation in U.S. prices in the 1930s.

Questions and answers:
['
Q: During which times does the value of the dollar typically decline?
A: wartime', '
Q: When was the Federal Reserve established?
A: 1913', '
Q: What was the Federal Reserve designed to furnish?
A: an "elastic" currency', '
Q: What had previously kept prices stable?
A: gold standard', '
Q: How much did the US prices deflate in the 1930s?
A: 30%']
There is ongoing debate about whether central banks should target zero inflation (which would mean a constant value for the U.S. dollar over time) or low, stable inflation (which would mean a continuously but slowly declining value of the dollar over time, as is the case now). Although some economists are in favor of a zero inflation policy and therefore a constant value for the U.S. dollar, others contend that such a policy limits the ability of the central bank to control interest rates and stimulate the economy when needed.

Questions and answers:
['
Q: What would zero inflation mean for the US dollar over time?
A: constant value', '
Q: What would result in a slow declining of the value of the dollar over time?
A: low, stable inflation', '
Q: Who is in favor of a zero inflation policy?
A: some economists', "
Q: A zero inflation policy would limit who's influence and ability to react?
A: central bank", '
Q: With a zero inflation rate, what would the central bank be unable to do other than control interest rates?
A: stimulate the economy']
The word "dollar" is one of the words in the first paragraph of Section 9 of Article 1 of the U.S. Constitution. In that context, "dollars" is a reference to the Spanish milled dollar, a coin that had a monetary value of 8 Spanish units of currency, or reales. In 1792 the U.S. Congress adopted legislation titled An act establishing a mint, and regulating the Coins of the United States. Section 9 of that act authorized the production of various coins, including "DOLLARS OR UNITS—each to be of the value of a Spanish milled dollar as the same is now current, and to contain three hundred and seventy-one grains and four sixteenth parts of a grain of pure, or four hundred and sixteen grains of standard silver". Section 20 of the act provided, "That the money of account of the United States shall be expressed in dollars, or units... and that all accounts in the public offices and all proceedings in the courts of the United States shall be kept and had in conformity to this regulation". In other words, this act designated the United States dollar as the unit of currency of the United States.

Questions and answers:
['
Q: What is "dollars" a reference to?
A: the Spanish milled dollar', '
Q: How much value did a Spanish milled dollar have in relation to Spanish units of currency?
A: 8 Spanish units', '
Q: How many grains of standard silver were meant to be in a single dollar?
A: four hundred and sixteen', '
Q: How much value was one dollar meant to be equivalent to?
A: a Spanish milled dollar', '
Q: How many grains of pure silver were meant to be in a single dollar?
A: three hundred and seventy-one']
A "grand", sometimes shortened to simply "G", is a common term for the amount of $1,000. The suffix "K" or "k" (from "kilo-") is also commonly used to denote this amount (such as "$10k" to mean $10,000). However, the $1,000 note is no longer in general use. A "large" or "stack", it is usually a reference to a multiple of $1,000 (such as "fifty large" meaning $50,000). The $100 note is nicknamed "Benjamin", "Benji", "Ben", or "Franklin" (after Benjamin Franklin), "C-note" (C being the Roman numeral for 100), "Century note" or "bill" (e.g. "two bills" being $200). The $50 note is occasionally called a "yardstick" or a "grant" (after President Ulysses S. Grant, pictured on the obverse). The $20 note is referred to as a "double sawbuck", "Jackson" (after Andrew Jackson), or "double eagle". The $10 note is referred to as a "sawbuck", "ten-spot" or "Hamilton" (after Alexander Hamilton). The $5 note as "Lincoln", "fin", "fiver" or "five-spot". The infrequently-used $2 note is sometimes called "deuce", "Tom", or "Jefferson" (after Thomas Jefferson). The $1 note as a "single" or "buck". The dollar has also been, referred to as a "bone" and "bones" in plural (e.g. "twenty bones" is equal to $20). The newer designs, with portraits displayed in the main body of the obverse rather than in cameo insets upon paper color-coded by denomination, are sometimes referred to as "bigface" notes or "Monopoly money".

Questions and answers:
['
Q: What is a "grand" sometimes shortened to?
A: "G"', '
Q: What is another term other than "large" that means a stack of mutiple thousands?
A: "stack"', '
Q: What is a "C-note" a reference to?
A: the Roman numeral for 100', '
Q: Which note is occasionally called a "yardstick"?
A: $50', '
Q: What is another term for "bigface" notes?
A: Monopoly money']
The U.S. dollar was created by the Constitution and defined by the Coinage Act of 1792. It specified a "dollar" to be based in the Spanish milled dollar and of 371 grains and 4 sixteenths part of a grain of pure or 416 grains (27.0 g) of standard silver and an "eagle" to be 247 and 4 eighths of a grain or 270 grains (17 g) of gold (again depending on purity). The choice of the value 371 grains arose from Alexander Hamilton's decision to base the new American unit on the average weight of a selection of worn Spanish dollars. Hamilton got the treasury to weigh a sample of Spanish dollars and the average weight came out to be 371 grains. A new Spanish dollar was usually about 377 grains in weight, and so the new U.S. dollar was at a slight discount in relation to the Spanish dollar.

Questions and answers:
['
Q: What defined the US dollar?
A: Coinage Act of 1792', '
Q: What was the dollar based on?
A: the Spanish milled dollar', '
Q: How many grams of gold roughly were in an eagle?
A: 17', '
Q: Who made the decision to base the American Unit on the weight on the Spanish dollar?
A: Alexander Hamilton', '
Q: What was the average weight of a new Spanish dollar in terms of grains?
A: 377']
The United States Mint produces Proof Sets specifically for collectors and speculators. Silver Proofs tend to be the standard designs but with the dime, quarter, and half dollar containing 90% silver. Starting in 1983 and ending in 1997, the Mint also produced proof sets containing the year's commemorative coins alongside the regular coins. Another type of proof set is the Presidential Dollar Proof Set where four special $1 coins are minted each year featuring a president. Because of budget constraints and increasing stockpiles of these relatively unpopular coins, the production of new Presidential dollar coins for circulation was suspended on December 13, 2011, by U.S. Treasury Secretary Timothy F. Geithner. Future minting of such coins will be made solely for collectors.

Questions and answers:
['
Q: What is specifically produced for collectors?
A: Proof Sets', '
Q: What is the percentage of silver in coins in the Silver Proofs?
A: 90%', '
Q: When did the Mint being producing proof sets?
A: 1983', '
Q: Other than the Silver Proof set, what other type of Proof set exists?
A: Presidential Dollar Proof Set', '
Q: When was the production of Presidential dollar coins suspended?
A: December 13, 2011']
The Constitution provides that "a regular Statement and Account of the Receipts and Expenditures of all public Money shall be published from time to time". That provision of the Constitution is made specific by Section 331 of Title 31 of the United States Code. The sums of money reported in the "Statements" are currently being expressed in U.S. dollars (for example, see the 2009 Financial Report of the United States Government). The U.S. dollar may therefore be described as the unit of account of the United States.

Questions and answers:
['
Q: What dictates that a receipt for expenditures of all public money must be published?
A: The Constitution', '
Q: Which section specifically states that receipts for public money must be published?
A: Section 331', '
Q: Which currency are the sums of money in the "Statements" displayed in?
A: U.S. dollars', '
Q: What is the unit of account of the United States?
A: U.S. dollar']
Currently printed denominations are $1, $2, $5, $10, $20, $50, and $100. Notes above the $100 denomination stopped being printed in 1946 and were officially withdrawn from circulation in 1969. These notes were used primarily in inter-bank transactions or by organized crime; it was the latter usage that prompted President Richard Nixon to issue an executive order in 1969 halting their use. With the advent of electronic banking, they became less necessary. Notes in denominations of $500, $1,000, $5,000, $10,000 and $100,000 were all produced at one time; see large denomination bills in U.S. currency for details. These notes are now collectors' items and are worth more than their face value to collectors.

Questions and answers:
['
Q: What is the highest currently printed denomination of bill?
A: $100', '
Q: In which year were notes valued above $100 no longer printed?
A: 1946', '
Q: When were bills above the $100 denomination withdrawn from circulation?
A: 1969', '
Q: What use of higher value bills prompted Nixon to halt the use of said bills?
A: organized crime', '
Q: What was issued to halt the use of higher currency denomations?
A: an executive order']
The colloquialism "buck"(s) (much like the British word "quid"(s, pl) for the pound sterling) is often used to refer to dollars of various nations, including the U.S. dollar. This term, dating to the 18th century, may have originated with the colonial leather trade. It may also have originated from a poker term. "Greenback" is another nickname originally applied specifically to the 19th century Demand Note dollars created by Abraham Lincoln to finance the costs of the Civil War for the North. The original note was printed in black and green on the back side. It is still used to refer to the U.S. dollar (but not to the dollars of other countries). Other well-known names of the dollar as a whole in denominations include "greenmail", "green" and "dead presidents" (the last because deceased presidents are pictured on most bills).

Questions and answers:
['
Q: What is the British equivalent of a "buck"?
A: quid', '
Q: In which century can the term "buck" be traced back to?
A: 18th', '
Q: What kind of trade may have been the origin of the "buck"?
A: colonial leather trade', '
Q: What was the nickname given to the Demand Note dollars that were used to finance the Civil War?
A: Greenback', '
Q: What color other than green was used on the backside of the original note?
A: black']
The value of the U.S. dollar was therefore no longer anchored to gold, and it fell upon the Federal Reserve to maintain the value of the U.S. currency. The Federal Reserve, however, continued to increase the money supply, resulting in stagflation and a rapidly declining value of the U.S. dollar in the 1970s. This was largely due to the prevailing economic view at the time that inflation and real economic growth were linked (the Phillips curve), and so inflation was regarded as relatively benign. Between 1965 and 1981, the U.S. dollar lost two thirds of its value.

Questions and answers:
['
Q: What was the value of the U.S. dollar no longer anchored to?
A: gold', "
Q: Who's duty did it become to maintain the value of the U.S. currency?
A: Federal Reserve", '
Q: What move did the Federal Reserve take that resulted in stagflation and the decline of the U.S. dollar?
A: increase the money supply', '
Q: What claimed that inflation and economic growth were linked?
A: the Phillips curve', '
Q: How much value did the U.S. dollar lose between 1965 and 1981?
A: two thirds']
The dollar was first based on the value and look of the Spanish dollar, used widely in Spanish America from the 16th to the 19th centuries. The first dollar coins issued by the United States Mint (founded 1792) were similar in size and composition to the Spanish dollar, minted in Mexico and Peru. The Spanish, U.S. silver dollars, and later, Mexican silver pesos circulated side by side in the United States, and the Spanish dollar and Mexican peso remained legal tender until the Coinage Act of 1857. The coinage of various English colonies also circulated. The lion dollar was popular in the Dutch New Netherland Colony (New York), but the lion dollar also circulated throughout the English colonies during the 17th century and early 18th century. Examples circulating in the colonies were usually worn so that the design was not fully distinguishable, thus they were sometimes referred to as "dog dollars".

Questions and answers:
['
Q: What was the look of the dollar based on?
A: Spanish dollar', '
Q: In which century did the Spanish dollar start being used in Spanish America?
A: 16th', '
Q: When was the United States Mint founded?
A: 1792', '
Q: Outside of Mexico, where else was the Spanish dollar minted?
A: Peru', '
Q: When were the Spanish dollar and Mexican peso no longer accepted as legal tender?
A: 1857']
The Gold Standard Act of 1900 abandoned the bimetallic standard and defined the dollar as 23.22 grains (1.505 g) of gold, equivalent to setting the price of 1 troy ounce of gold at $20.67. Silver coins continued to be issued for circulation until 1964, when all silver was removed from dimes and quarters, and the half dollar was reduced to 40% silver. Silver half dollars were last issued for circulation in 1970. Gold coins were confiscated by Executive Order 6102 issued in 1933 by Franklin Roosevelt. The gold standard was changed to 13.71 grains (0.888 g), equivalent to setting the price of 1 troy ounce of gold at $35. This standard persisted until 1968.

Questions and answers:
['
Q: What was the name of the act introduced in the year 1900?
A: Gold Standard Act', '
Q: How much gold in grams was one dollar equivalent to?
A: 1.505', '
Q: How much was 1 troy ounce of gold worth?
A: $20.67', '
Q: Which year brought the end to silver being in dimes and quarters?
A: 1964', '
Q: Which President confiscated gold coins?
A: Franklin Roosevelt']
Early releases of the Washington coin included error coins shipped primarily from the Philadelphia mint to Florida and Tennessee banks. Highly sought after by collectors, and trading for as much as $850 each within a week of discovery, the error coins were identified by the absence of the edge impressions "E PLURIBUS UNUM IN GOD WE TRUST 2007 P". The mint of origin is generally accepted to be mostly Philadelphia, although identifying the source mint is impossible without opening a mint pack also containing marked units. Edge lettering is minted in both orientations with respect to "heads", some amateur collectors were initially duped into buying "upside down lettering error" coins. Some cynics also erroneously point out that the Federal Reserve makes more profit from dollar bills than dollar coins because they wear out in a few years, whereas coins are more permanent. The fallacy of this argument arises because new notes printed to replace worn out notes, which have been withdrawn from circulation, bring in no net revenue to the government to offset the costs of printing new notes and destroying the old ones. As most vending machines are incapable of making change in banknotes, they commonly accept only $1 bills, though a few will give change in dollar coins.

Questions and answers:
['
Q: Other than Florida, which other state got send error coins?
A: Tennessee', '
Q: Where did error coins originate?
A: Philadelphia mint', '
Q: How much were error coins initially worth for collectors?
A: profit', '
Q: What were some amateur collectors duped into buying?
A: "upside down lettering error" coins', '
Q: What do vending machines commonly only accept?
A: $1 bills']
The U.S. Constitution provides that Congress shall have the power to "borrow money on the credit of the United States". Congress has exercised that power by authorizing Federal Reserve Banks to issue Federal Reserve Notes. Those notes are "obligations of the United States" and "shall be redeemed in lawful money on demand at the Treasury Department of the United States, in the city of Washington, District of Columbia, or at any Federal Reserve bank". Federal Reserve Notes are designated by law as "legal tender" for the payment of debts. Congress has also authorized the issuance of more than 10 other types of banknotes, including the United States Note and the Federal Reserve Bank Note. The Federal Reserve Note is the only type that remains in circulation since the 1970s.

Questions and answers:
['
Q: What power was Congress given by the Constitution?
A: borrow money on the credit of the United States', '
Q: What did Congress authorize the Federal Reserve Banks to do?
A: issue Federal Reserve Notes', '
Q: What are the notes issued by the Federal Reserve?
A: obligations of the United States', '
Q: Where, other than any Federal Reserve bank, can notes be redeemed?
A: Washington, District of Columbia', '
Q: Since the 1970s, what is the only type of note that has remained in circulation?
A: Federal Reserve Note']
Usually, the short-term goal of open market operations is to achieve a specific short-term interest rate target. In other instances, monetary policy might instead entail the targeting of a specific exchange rate relative to some foreign currency or else relative to gold. For example, in the case of the United States the Federal Reserve targets the federal funds rate, the rate at which member banks lend to one another overnight. The other primary means of conducting monetary policy include: (i) Discount window lending (as lender of last resort); (ii) Fractional deposit lending (changes in the reserve requirement); (iii) Moral suasion (cajoling certain market players to achieve specified outcomes); (iv) "Open mouth operations" (talking monetary policy with the market).

Questions and answers:
['
Q: What is the short term goal of open market operations?
A: achieve a specific short-term interest rate target', '
Q: What does the Federal Reserve target?
A: federal funds rate', '
Q: What is the federal funds rate?
A: the rate at which member banks lend to one another overnight', '
Q: What is the cajoling of certain market players to achieve specified outcomes also known as?
A: Moral suasion', '
Q: What does "open mouth operations" mean?
A: talking monetary policy with the market']
Under the Bretton Woods system established after World War II, the value of gold was fixed to $35 per ounce, and the value of the U.S. dollar was thus anchored to the value of gold. Rising government spending in the 1960s, however, led to doubts about the ability of the United States to maintain this convertibility, gold stocks dwindled as banks and international investors began to convert dollars to gold, and as a result the value of the dollar began to decline. Facing an emerging currency crisis and the imminent danger that the United States would no longer be able to redeem dollars for gold, gold convertibility was finally terminated in 1971 by President Nixon, resulting in the "Nixon shock".

Questions and answers:
['
Q: When was the Bretton Woods system established?
A: after World War II', '
Q: What was the fixed value of gold?
A: $35 per ounce', '
Q: What was the value of the U.S. dollar linked to?
A: the value of gold', '
Q: What did banks and investors do that devalued the dollar?
A: convert dollars to gold', '
Q: In which year was gold convertability terminated?
A: 1971']
The U.S. dollar is fiat money. It is the currency most used in international transactions and is the world's most dominant reserve currency. Several countries use it as their official currency, and in many others it is the de facto currency. Besides the United States, it is also used as the sole currency in two British Overseas Territories in the Caribbean: the British Virgin Islands and the Turks and Caicos islands. A few countries use only the U.S. Dollar for paper money, while the country mints its own coins, or also accepts U.S. coins that can be used as payment in U.S. dollars, such as the Susan B. Anthony dollar.

Questions and answers:
['
Q: What kind of money is the U.S. dollar?
A: fiat money', '
Q: Although for some countries the dollar is not their official currency, how do they use the currency?
A: de facto currency', "
Q: Other than the British Virgin Islands, what other area in the Caribbean uses the dollar as it's sole currency?
A: Turks and Caicos islands", '
Q: For countries that use the dollar as their paper currency, what other currency do they make?
A: mints its own coins', '
Q: What is an example of a U.S. coin that can be used as payment in some countries?
A: Susan B. Anthony dollar']
Today, USD notes are made from cotton fiber paper, unlike most common paper, which is made of wood fiber. U.S. coins are produced by the United States Mint. U.S. dollar banknotes are printed by the Bureau of Engraving and Printing and, since 1914, have been issued by the Federal Reserve. The "large-sized notes" issued before 1928 measured 7.42 inches (188 mm) by 3.125 inches (79.4 mm); small-sized notes, introduced that year, measure 6.14 inches (156 mm) by 2.61 inches (66 mm) by 0.0043 inches (0.11 mm). When the current, smaller sized U.S. currency was introduced it was referred to as Philippine-sized currency because the Philippines had previously adopted the same size for its legal currency.

Questions and answers:
['
Q: What are dollar notes made from now adays?
A: cotton fiber paper', '
Q: What is most common paper made of?
A: wood fiber', '
Q: Since 1914, who issues the dollar banknotes?
A: Federal Reserve', '
Q: How long do the current notes measure?
A: 6.14 inches', '
Q: What size currency are the new smaller notes similar to?
A: Philippine']
From 1792, when the Mint Act was passed, the dollar was defined as 371.25 grains (24.056 g) of silver. Many historians[who?] erroneously assume gold was standardized at a fixed rate in parity with silver; however, there is no evidence of Congress making this law. This has to do with Alexander Hamilton's suggestion to Congress of a fixed 15:1 ratio of silver to gold, respectively. The gold coins that were minted however, were not given any denomination whatsoever and traded for a market value relative to the Congressional standard of the silver dollar. 1834 saw a shift in the gold standard to 23.2 grains (1.50 g), followed by a slight adjustment to 23.22 grains (1.505 g) in 1837 (16:1 ratio).[citation needed]

Questions and answers:
['
Q: When was the Mint Act passed?
A: 1792', '
Q: How many grains of silver did the Mint Act define the dollar as?
A: 371.25', '
Q: Who suggested that the ratio of silver to gold should be fixed?
A: Alexander Hamilton', '
Q: What market value were gold coins traded in relation to?
A: Congressional standard of the silver dollar', '
Q: In what year did the shift in gold standard occur?
A: 1834']