A Monetary System in Which Gold Backs Up Paper Money

question 88

Multiple Choice

A monetary system in which gold backs up paper money is called:

• A) the silver standard.
• B) the golden age.
• C) the gold standard.
• D) the commodity standard.

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Definitions:

Moral Leader

An individual who prioritizes ethical standards and values in guiding their actions and decision-making processes within an organization.

Free Riding

Occurs when individuals benefit from resources, goods, or services without paying for them, often in the context of public goods.

Public Goods

Goods that are non-excludable and non-rivalrous, meaning they are accessible to all members of a society and one individual's consumption does not reduce availability to others.

Subsidize

The act of providing financial assistance to individuals, businesses, or industries to support or promote economic activities.