Between 1870 and 1914,the Value of Most Major Currencies Was

question 39

Multiple Choice

Between 1870 and 1914,the value of most major currencies was maintained by fixing their prices in terms of _____.

• A) dollar 
• B) yuan 
• C) gold 
• D) diamonds

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Definitions:

European Countries

Nations located on the continent of Europe, known for diverse cultures, languages, and economies.

Deadweight Loss

The decrease in economic effectiveness when a product or service fails to achieve or cannot attain its balance point.

Cheesecake

A sweet dessert consisting of one or more layers, primarily a thick layer of cream cheese and egg mixture set atop a base made from crushed cookies, crackers, or sponge cake.

Equilibrium Price

The price at which the quantity of a good or service demanded equals the quantity supplied, leading to market stability where there is no excess supply or demand.