In Terms of the Gold Standard, the Amount of Currency

question 103

Multiple Choice

In terms of the gold standard, the amount of currency needed to purchase one ounce of gold was referred to as the

• A) gold to bond ratio.
• B) gold reserve ratio.
• C) gold mix ratio.
• D) gold par value.
• E) gold net value.

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Definitions:

Political Organization

The way in which a society creates and applies laws and policies through structures, institutions, and processes.

Band

A small, nomadic, and kinship-based group of people who subsist primarily through hunting, gathering, or fishing.

States

Politically defined territories that have organized governments, populations, and sovereignty over the land.

Political Organization

The way in which a society creates and structures its political institutions, processes, and relationships to make collective decisions and govern behavior.