Which of the Following Are True

question 19

Multiple Choice

Which of the following are true?

• A) Those arguing for the gold standard tend to be supporters of conservative ideology.
• B) A gold standard may cause deflation.
• C) Those in favor of the gold standard argue that the system can prevent inflation.
• D) A gold standard may cause inflation due to the increase in the price of gold.
• E) Options A, B, and C are true.

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Definitions:

Marginal Cost

The increment in total pricing necessary for the creation of one more unit of any good or service.

Marginal Revenue

The supplementary earnings obtained by selling an extra unit of a good or service.

Marginal Revenue Curve

A graphical representation showing the additional revenue that is generated by selling one more unit of a good or service.

Marginal Revenue

The income enhancement from the sale of one more unit of a product or service.