Between 1891 and 1896,
a. both "external" and "internal" gold drains plagued the U.S. Treasury.
b. Americans rushed to exchange notes for gold.
c. Treasury reserves of gold dipped below the minimum reserve of $100 million.
d. increases in commodity exports ultimately bolstered the gold reserves of the Treasury.
e. All of the above.
e. All of the above.
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Which of the following is true of economic expansions?
A) Economic expansions are defined as the period between recessions. B) Consumption increases but investment falls during periods of economic expansion. C) Output grows during periods of economic expansion, but the unemployment rate is also high. D) Governments can correctly predict the length of periods of economic expansion.
In the above figure, as the y variable increases,
A) the x variable is constant. B) the x variable increases. C) the x variable decreases. D) the x variable at first increases but then decreases. E) the x variable probably changes, but more information is needed to determine if it increases, decreases, or stays the same.
As the value of U.S. exports ________, the quantity of ________ demanded increases
A) increases; foreign currencies B) increases; dollars C) decreases; dollars D) None of the above is correct because the value of U.S. exports has nothing to do with the quantity of dollars or foreign currency demanded.
Suppose that a consumer regards two types of soap as perfect substitutes for one another. The price consumption path generated by changing the price of one type of soap
A) is always upward sloping. B) is always horizontal. C) is always vertical. D) corresponds with the axis for the cheaper soap. E) corresponds with the axis for the more expensive soap.