Under a Gold Standard

question 167

Multiple Choice

Under a gold standard,

• A)with a balance of payments deficit, interest rates would fall and attract foreign capital.
• B)a deficit in the balance of payments increased a nation's money supply automatically.
• C)all currencies were defined in terms of gold.
• D)when a nation had a deficit in its balance of payments, more gold was flowing in than was flowing out.
• E)All of the above are correct.

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Definitions:

Selling Price

The amount of money for which a seller offers goods or services to buyers.

Television Set

An electronic device used for receiving television broadcasts and displaying them in visual format.

Markdown

A reduction from the original or list price of a product, often used as a sales strategy to encourage purchases.

Selling Price

The amount of money for which a product or service is sold to the customer.