In the 1850s, the Proportion of Silver in the Currency

question 43

Multiple Choice

In the 1850s, the proportion of silver in the currency supply fell, and the proportion of gold rose. This is an illustration of

• A) the quantity theory of money.
• B) Gresham 's law.
• C) Say's law.
• D) the Walrasian auctioneer.
• E) it violates every known law of economics.

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Definitions:

Procedural Memories

Procedural memories are a type of long-term memory involved in the learning of motor skills and behaviors, allowing individuals to perform tasks without conscious awareness of the learned abilities.

Reticular Formation

A network of neurons in the brainstem involved in arousal and alertness.

Procedural Memories

Memories of how to perform tasks or actions, such as riding a bike or tying shoelaces, often recalled unconsciously.

Cerebellum

A region of the brain that plays an important role in motor control, and can also be involved in some cognitive functions like attention and language.