Each of the Following Is a Requirement of a Gold

question 38

Multiple Choice

Each of the following is a requirement of a gold standard except

• A)a nation defines its currency in terms of gold.
• B)a nation's money supply is made up of gold or gold certificates.
• C)a nation must maintain a fixed ratio between its gold stock and its money supply.
• D)there must be no barriers to the free flow of gold into and out of the country.

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Definitions:

Duties

Obligations required by law, morality, or roles, entailing actions that an individual is expected or required to carry out.

Conflicts

Situations in which interests, ideas, or values of different individuals or groups are incompatible, leading to a potential dispute or struggle.

Financial Statements

Written records that convey the business activities and financial performance of a company, including the balance sheet, income statement, and cash flow statement.

Business Firm

An organization engaged in commercial, industrial, or professional activities, aiming to generate profits.