When the International Financial System Operated Under the Gold Standard

question 15

Multiple Choice

When the international financial system operated under the gold standard,

• A)the currencies of most countries were convertible into gold
• B)all international transactions were financed with gold
• C)the price of gold was determined by the supply and demand for foreign exchange
• D)the quantity of money demanded was always the same
• E)there was very little inflation

---

Definitions:

Peacemaking

The process of bringing about peace, especially by reconciling adversaries through diplomacy, negotiation, and other efforts.

Care Approaches

Ethical theories or practices emphasizing the importance of interpersonal relationships and care as a fundamental aspect of human morality and decision making.

Affirms

To state something as true, to assert strongly and publicly.

Priority

The status established by order of importance or urgency.