Which of the Following Statements Is Most Correct

question 102

Multiple Choice

Which of the following statements is most correct?

• A) Both gold and silver have now been completely removed from any monetary role in the U.S. economy.
• B) Savings deposits and small time deposits at depository institutions constitute part of the M1 money supply definition.
• C) Fiat money is gold coins issued by central banks under authority of the government.
• D) The monetary system of the United States today is based on a dollar standard, and the dollar can be converted into gold.

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