Which of the following statements is true?

a. Half the money supply is backed by gold.

b. The gold standard applies to a small fraction of the money supply.

c. The money supply is backed by Treasury notes.

d. There is no concrete backing to the money supply in the United States.

Question

Duncan Armstrong

16 April, 10:22

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Answers (1)

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Hank · Answer 1

C

Explanation:

The money supply is backed by Treasury notes

Which of the following statements is true?a. Half the money supply is backed by gold.b. The gold standard applies to a small fraction of the money supply.c. The money supply is backed by Treasury notes.d. There is no concrete backing to the money supply in the United States.