The gold standard ended in the 1970s because the gold supplies failed to keep pace with the increase in money supplies required for industrialization and rapid economic growth witnessed in this era
a. True
b. False
Indicate whether the statement is true or false
False
You might also like to view...
Which of the following is illegal under the Sherman Act? I. A competitor agrees with another competitor on the price at which the product will be sold. II
A manufacturer refuses to supply a retailer who does not accept the manufacturer's guidance on the price. A) only I B) only II C) both I and II D) neither I nor II
Using the table above, and assuming no bequest, what amount of consumption is chosen in period 1, if the consumer wants consumption in the two periods to be equal?
If initial wealth is $40,000, what amount of consumption is equal over the two periods?
If the marginal product of labor falls, the marginal cost of output
a. declines, then increases b. becomes negative c. rises d. remains constant e. falls
Which of the following forms of money is the least liquid?
A. dollars B. checking account deposits C. passbook savings D. certificates of deposit