Gold certificates held by the Federal Reserve are
A) legal tender.
B) warehouse receipts issued by the Treasury for gold bullion.
C) the assets for backing our paper money.
D) deposits used by the Treasury to pay its bills.
E) I.O.U.s that reflect the gold we owe those countries that export more to us than we export to them.
Correct Answer:
Verified
Q22: The Federal Reserve System
A) is an outgrowth
Q23: The major liability of the Federal Reserve
Q24: If one pictures the Federal Reserve System
Q25: The major asset of the Federal Reserve
Q26: The 12 Federal Reserve banks
A) hold the
Q28: When the Fed buys government securities on
Q29: Federal Reserve Bank holdings of securities consist
Q30: The paper currency we use in the
Q31: The most important function of a central
Q32: Responsibilities of the Federal Reserve System do
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