Under the Gold Standard of Currency Exchange That Existed from 1879

question 44

Multiple Choice

Under the gold standard of currency exchange that existed from 1879 to 1914, an ounce of gold cost $20.67 in U.S. dollars and £4.2474 in British pounds. Therefore, the exchange rate of pounds per dollar under this fixed exchange regime was:

• A) £4.8665/$.
• B) £0.2055/$.
• C) always changing because the price of gold was always changing.
• D) unknown because there is not enough information to answer this question.

---

Definitions:

Blood

A vital liquid in humans and many animals, composed of cells and plasma, that circulates through the body delivering oxygen and nutrients while removing waste products.

Turbulence

Turbulence refers to violent or unsteady movement of air or water, or a situation characterized by conflict or confusion.

Active Avoidance

A type of learning in which an individual learns to perform a behavior to prevent or avoid an unpleasant stimulus.