By the late 1950s, dollars held by foreign central banks exceeded the official dollar value of U.S. gold reserves
Indicate whether the statement is true or false
FALSE
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Which of the following statements is true?
A) The economy can operate outside (or beyond) its institutional PPF and its physical PPF, but only for a short while. B) The economy can operate outside its physical PPF, if only for a short while, but can never operate outside its institutional PPF. C) The economy can operate outside its institutional PPF, if only for a short while, but can never operate outside its physical PPF. D) The economy can never operate outside its institutional PPF or its physical PPF, even for a short while. E) none of the above
________ wrote the Wealth of Nations.
A. Adam Smith B. David Ricardo C. Paul Samuelson D. Karl Marx
Average fixed costs for a given level of output can be determined graphically by:
A. summing the marginal costs of any number of units of output and dividing the sum by that output. B. the vertical distance between TC and TVC. C. the vertical distance between AVC and MC. D. the vertical distance between ATC and AVC.
The existence of adverse selection results in:
A) reduced market efficiency B) an increase in the likelihood of moral hazard C) increase market transactions D) higher transaction costs