Asked by Jordan Pollock on Jun 07, 2024
Verified
Which statement is false?
A) Trade is the largest part of our international financial transactions.
B) Our capital account ran a surplus in 2009.
C) We have been on an international gold standard since 1933.
D) None of the statements is false.
International Gold Standard
A monetary system where the value of a country's currency or paper money was directly linked to gold.
- Detail the constituents and significance of the balance of payments as well as its accompanying accounts.
Verified Answer
SC
Susan CantuJun 12, 2024
Final Answer :
C
Explanation :
The statement that "We have been on an international gold standard since 1933" is false. The U.S. abandoned the gold standard in 1971.
Learning Objectives
- Detail the constituents and significance of the balance of payments as well as its accompanying accounts.