Under the Gold Standard, It Is Not Necessary for a Central

question 28

True/False

Under the gold standard, it is not necessary for a central bank to control the money supply.

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Definitions:

Evaluate

The process of assessing or determining the significance, worth, or condition of something, typically by careful appraisal and study.

Fraction

A mathematical expression representing the division of one quantity by another, indicating parts of a whole.

Multiplication

A mathematical operation where a number is added to itself a certain number of times, symbolized by the ‘×’ sign.

Exponentiation

A mathematical operation involving the raising of a number to the power of another number, typically expressed as \(a^{b}\).