Final answer:
At equilibrium, the rates of the forward and reverse reactions for a catalyzed reaction are the same, resulting in a dynamic equilibrium where the composition of the system does not change over time. Therefore, the given statement is TRUE.
Step-by-step explanation:
The statement given is true: once equilibrium is reached for a catalyzed reaction, the rates of reaction for both the forward and reverse reactions will indeed be the same. At equilibrium, the rate of the forward reaction (Rate(ƒ)) and the rate of the reverse reaction (Rate(r)) become equal, and thus, no net change occurs in the concentration of reactants and products over time. This state is referred to as a dynamic equilibrium, where the reactions continue to occur, but they balance each other out so the overall composition remains unchanged.