A Key Objective of the Gold Standard Was to

question 60

Multiple Choice

A key objective of the gold standard was to

• A) create a flexible exchange rate system between countries.
• B) create a fixed exchange rate system between countries.
• C) allow nations to maintain their gold reserves.
• D) allow nations to tax its citizens in gold.

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Definitions:

Holder in Due Course

A legal term referring to a person who has acquired a negotiable instrument in good faith and for value, and thus has certain rights above the original parties to the instrument.

Consideration

The value promised, given, or performed that motivates parties to enter into a contract, being essential for its validity.

Indorser

A person who endorses a negotiable instrument.

Rights

Entitlements or permissions, either granted by law or moral principles, allowing individuals to perform certain actions or to be treated in specific ways.