Determine if the statements about the Panamanian currency are true or false.

Question

(4 points)
True False
The U.S. Dollar has hurt the economy of Panamá and brought poverty to the country. 

The Balboa is Panamá's official currency. 

The U.S. dollar is also a legal currency in Panamá. 

Panamá has refused to use the U.S. Dollar.

Answer 1

Here are the evaluations of the statements about the Panamanian currency:

1. The U.S. Dollar has hurt the economy of Panamá and brought poverty to the country. False

   • The U.S. dollar has generally been seen as stabilizing for Panamá's economy, contributing to economic growth and stability rather than causing poverty.

2. The Balboa is Panamá's official currency. True

   • The Balboa is indeed Panamá's official currency, although it is not widely used in practice.

3. The U.S. dollar is also a legal currency in Panamá. True

   • The U.S. dollar is used alongside the Balboa and is the more commonly used currency in everyday transactions.

4. Panamá has refused to use the U.S. Dollar. False

   • Panamá has not refused to use the U.S. dollar; in fact, it has adopted it alongside the Balboa as a legal currency.

Therefore, the correct true/false assessments are:

1. False
2. True
3. True
4. False