During What Period of Time Was the Gold Standard Used

question 136

Multiple Choice

During what period of time was the gold standard used?

• A)from the nineteenth century until the 1930s
• B)from the eighteenth century until the nineteenth century
• C)from 1914 until 1929
• D)from 1944 until 1980
• E)from 1970 until 1993

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Definitions:

Utility Function

A mathematical representation that relates an individual’s consumption bundle to the level of satisfaction or utility derived from it.

Marginal Utility

The additional satisfaction or utility gained from consuming or using one more unit of a good or service.

Interest Rate

The percentage of a sum of money charged for its use, which can be seen as the cost of borrowing money or the return on saving.

Rule Of 70

A method used to estimate the number of years it will take for a variable to double, calculated by dividing 70 by the annual growth rate.