Prior to the 1870s,both Gold and Silver Were Used as International

question 82

Multiple Choice

Prior to the 1870s,both gold and silver were used as international means of payment and the exchange rates among currencies were determined by either their gold or silver contents.Suppose that the dollar was pegged to gold at $30 per ounce,the French franc is pegged to gold at 90 francs per ounce and to silver at 6 francs per ounce of silver,and the German mark pegged to silver at 1 mark per ounce of silver.What would the exchange rate between the U.S.dollar and German mark be under this system?

• A)1 German mark = $2
• B)1 German mark = $0.50
• C)1 German mark = $3
• D)1 German mark = $1

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Definitions:

External Rewards

Incentives or benefits provided by external sources, such as money, praise, or recognition, that motivate individuals to perform certain actions.

Exciting Work

Employment or tasks that stimulate enthusiasm and interest, often because of novelty, variability, or the challenge they present.

Conscientious

Characterized by diligent and careful work or actions.

Transcendence Needs

The highest level in Maslow's hierarchy of needs, representing the desire for personal growth, self-fulfillment, and realizing one's potential.