Under the Gold Standard, All Except One of the Following

question 110

Multiple Choice

Under the gold standard, all except one of the following are true.Which is not true?

• A)Paper currency was convertible into gold at a fixed rate.
• B)A balance-of-payments deficit would result in a loss of gold.
• C)A balance-of-payments surplus would result in an inflow in gold.
• D)The money supply of any country was largely determined by flows of gold.
• E)A surplus country experienced a rise in its money supply and a drop in its price level.

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Definitions:

Refractory Period

A phase right after stimulation where a nerve or muscle cannot respond to additional stimulation.

Making Out

Engaging in an intense or passionate kissing session, often with the use of hands to touch the other person.

Vasocongestion

Engorgement of blood vessels.

Engorgement

The process of swelling or becoming engorged, often referring to body tissues, which can occur due to the accumulation of fluid or blood.