Asked by kylah perry on May 26, 2024
Verified
One plausible explanation for the large amount of U.S. currency outstanding is that many dollars are held abroad.
U.S. Currency
The official money used in the United States, primarily consisting of Federal Reserve Notes (dollars) and coins.
Held Abroad
Refers to assets or investments located or held in a foreign country, outside of the investor's home nation.
- Understand the reasons for holding U.S. currency abroad.
Verified Answer
AD
Alyson DiamondMay 31, 2024
Final Answer :
True
Explanation :
A significant portion of U.S. currency is indeed held outside the United States, serving as a global reserve currency and used for transactions and savings in many countries around the world.
Learning Objectives
- Understand the reasons for holding U.S. currency abroad.