The Price-Specie-Flow Mechanism Will Work Only If Governments Are Willing

question 40

Multiple Choice

The price-specie-flow mechanism will work only if governments are willing to play by the rules of the game by letting the money stock rise and fall as gold flows in and out.Once the government demonetizes (neutralizes) gold,the mechanism will break down.In addition,the effectiveness of the mechanism depends on

• A)the income elasticity of the demand for imports.
• B)the price elasticity of the demand for imports.
• C)the price elasticity of the supply of imports.
• D)the income elasticity of the supply of imports.

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Definitions:

Symbolic Interactionism

A theoretical perspective in sociology that focuses on how individuals interpret and give meaning to their social world through the use of symbols.

Social Construction

The concept that the reality of a particular situation or entity is constructed by the social processes and interactions that give it meaning.

IAAF

International Association of Athletics Federations, now World Athletics, oversees international track and field competitions.

Gender Inequality

Refers to the disparities in rights, responsibilities, and opportunities between males and females.