Briefly explain whether you agree with the following statement: The Federal Reserve is limited in its ability

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Briefly explain whether you agree with the following statement:
"The Federal Reserve is limited in its ability to issue paper currency by the amount of gold the federal government has in Fort Knox. To issue more paper currency, the government first has to buy more gold."
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Economics

ISBN: 978-0134106243

6th edition

Authors: R. Glenn Hubbard

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