The Gold Standard

question 79

Multiple Choice

The gold standard:

• A)has been in operation since the establishment of the Federal Reserve Board.
• B)has been in operation since shortly after World War I.
• C)has been in operation since the Bretton Woods agreement was signed.
• D)was in operation for about 35 years before World War I.
• E)was in operation from the date of the Bretton Woods agreement until the devaluation of the U.S.dollar in 1971.

---

Definitions:

International Value

The worth or significance of goods, services, assets, or currencies when evaluated on a global scale or in more than one country.

Foreign Exchange Market

An international exchange system where national currencies are swapped against each other.

Selling Currency

The act of exchanging one's own country's currency for another currency, which can influence exchange rates and is a key aspect of foreign exchange markets.

Domestic Interest Rates

Interest rates set by a country's central bank that influence the cost of borrowing within that country.