Which of the following statements about U.S. monetary standards is FALSE?
A) Prior to the 1930s, the U.S. was on a gold-coin standard where gold freely circulated in the hands of the public.
B) During the 1930s, the U.S. went on a gold-bullion standard in which gold backed the money supply but was not generally available to the public.
C) The gold supply was frozen in the early 1970s and the dollar was no longer converted to gold for either domestic or international transactions.
D) The payment of the national debt in gold and the redemption of foreign money for gold diminished the U.S. gold supply during the 1980s and 1990s.
Correct Answer:
Verified
Q59: A system where the money supply is
Q60: A system where the money supply is
Q61: A major advantage of a gold standard
Q62: A problem with a commodity monetary standard
Q63: A major problem with a paper monetary
Q65: Over its history, the U.S. economy:
A) was
Q66: Which of the following statements is FALSE?
A)
Q67: Financial depository institutions can:
A) make loans.
B) create
Q68: Money is created:
A) when the U.S. gold
Q69: Financial depository institutions create money when they:
A)
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents