Under a Gold Standard in Which France Defined 1 Franc

question 117

Short Answer

Under a gold standard in which France defined 1 franc to be worth 1/50^th of an ounce of gold,and the U.S.defined $1 to be worth 1/10^th of an ounce of gold,then 1 U.S.dollar would exchange for __________ francs.

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Definitions:

Bandura

A psychologist known for his work on social learning theory, emphasizing the role of observational learning, imitation, and modeling in behavior.

Social Learning Theory

A theory of learning and social behavior which proposes that new behaviors can be acquired by observing and imitating others.

Reciprocal Determinism

Bandura’s term for the way people affect their environments even while their environments affect them.

Julian Rotter

An American psychologist known for developing social learning theory and the concept of locus of control.