A Return to the Gold Standard,that Is,using Gold for Money

question 138

Multiple Choice

A return to the gold standard,that is,using gold for money will ________ the ________ for gold,________ its price,everything else held constant.

• A)increase;demand;increasing
• B)decrease;demand;decreasing
• C)increase;supply;increasing
• D)decrease;supply;increasing

---

Definitions:

Machine-Hours

The total duration that machinery is utilized for production activities, expressed in hours, serving as a basis for allocating machine-related costs to products.

Manufacturing Overhead

All indirect costs associated with manufacturing, such as maintenance and repairs on equipment, utilities, and salaries for employees not directly involved in production.

Relevant Range

The range of activity within which the assumptions about fixed and variable costs in cost-volume-profit analysis remain valid.

Average Costs

The total costs (fixed and variable) divided by the number of units produced, reflecting the average cost per unit.