Under the Gold Standard

question 88

Multiple Choice

Under the gold standard,

• A)countries specified a fixed price at which they were willing to trade their currency for an ounce of gold.
• B)countries adopted a flexible price at which they were willing to trade their currency for an ounce of gold.
• C)all countries traded gold at the market price and traded their currency at that price.
• D)countries allowed their currency to float against the price of gold.
• E)all countries fixed their currency at the same rate.

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Definitions:

Direct Approach

A communication method where the main point or request is presented at the beginning, followed by supporting details.

Minor Impact

A small or negligible effect or influence that something has on a situation, process, or condition.

Direct Approach

A straightforward method of communication or action where intentions and messages are conveyed clearly and openly.

Negative Message

Communication that conveys a refusal, denial, or unfavorable information to the recipient.