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Suppose an Economy's Exchange Rate System Is the Gold Standard

question 77

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Suppose an economy's exchange rate system is the gold standard and vast tracks of gold are discovered,as is what happened in the United States in 1849.If the economy is at full employment,what should this discovery do?


Definitions:

Fat Client

A computer in a client-server architecture that provides rich functionality independently of the central server.

Thin Client

A computer that does not offer the full functionality of a fat client.

Fat Client

A computer that performs the bulk of data processing operations itself, rather than relying on a server, characterized by its significant local storage, processing power, and software functionality.

Many Functions

A term that denotes software or devices featuring a wide range of capabilities or features designed to perform multiple tasks.

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