Under the Gold Standard,________

question 79

Multiple Choice

Under the gold standard,________.

• A) currency values were determined by supply and demand
• B) countries agreed to buy or sell their paper currencies for gold
• C) countries were free to adopt any nation's exchange-rate system
• D) the dollar's value was allowed to fall on currency markets

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Definitions:

Compounded Quarterly

Refers to the process of calculating interest on an investment or loan where the interest is added to the principal amount four times a year.

Interest

Money paid at a particular rate for the use of borrowed funds or for delaying the repayment of a debt.

Ethnic Assimilation

The process by which individuals or groups of differing ethnic heritage are absorbed into the dominant culture of a society.

Praxis

The process by which a theory, lesson, or skill is enacted, embodied, or realized in the real world; often considered the practice or application of a learned skill.