The Gold Standard Was the Major System of Exchange Rate

question 167

Multiple Choice

The gold standard was the major system of exchange rate determination

• A) prior to 1785.
• B) before 1914.
• C) following World War II.
• D) until 1971.

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Definitions:

Associative Learning

A learning process that involves connecting a stimulus with a response or connecting two stimuli together.

Observational Learning

A learning process where individuals change their behaviors or acquire new skills by watching and imitating others.

Distinction

The act of differentiating or distinguishing between two or more things, based on characteristics or qualities.

Insight Learning

A form of problem solving where the solution suddenly comes to the individual in what seems like a sudden stroke of enlightenment.