The Mint Act of 1792 failed to provide for a stable domestic hard currency for the U.S. because
(a) the supply of gold and silver was inadequate.
(b) the federal government failed to make the coins legal tender.
(c) gold was undervalued, while silver was exported.
(d) the notes of the U.S. government were not accepted by the population because of their
low value, while the government had no gold to offer.
(c)
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Advocates of flexible exchange rates claim that under flexible exchange rates, the central bank of
A) an overheated economy could cool down activity by increasing the money supply without worrying that undesired reserve inflow would undermine its stabilization effort. B) a cooled economy could cool down activity by contracting the money supply without worrying that undesired reserve inflow would undermine its stabilization effort. C) an overheated economy could cool down activity by contracting the money supply without worrying that undesired reserve inflow would undermine its stabilization effort. D) an overheated economy could cool down activity by contracting the money supply without worrying that undesired reserve outflow would undermine its stabilization effort. E) an overheated economy could cool down activity by decreasing employment and increasing output without worrying that this would undermine its stabilization effort.
There are some well-respected economists that believe we should substitute a national sales tax for the income tax. Other equally well-respected economists do not agree. What accounts for the difference in opinion? a. It might be over their interpretation of fairness. b. It might be over different modeling
c. Both (a) and (b). d. None of the above.