In the Current International Monetary System, What Is the Role

question 198

Multiple Choice

In the current international monetary system, what is the role for gold?

• A)The system is a gold-exchange standard, based on a fixed value for a key currency.
• B)Gold backs each currency, and therefore, the system as a whole.
• C)It serves as the principal reserve asset.
• D)It has no role.

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Definitions:

Public Compliance

The act of outwardly agreeing with a group while internally disagreeing, often to fit in or avoid conflict.

Social Influence

The process by which individuals change their thoughts, feelings, or behaviors as a result of interaction with others, including conformity, compliance, and obedience.

Group Norms

Shared standards or expectations that guide the behavior of members within a group.

Change in Norms

denotes a shift in the accepted standards of behavior or beliefs within a society or group over time.