Under the Gold Standard,the Government Must Have Enough Gold to Back

question 20

Multiple Choice

Under the gold standard,the government must have enough gold to back up any

• A)increase in money demand.
• B)increase in the money supply.
• C)change in its currency's exchange rate.
• D)foreign currency deposits in its central bank.

Apply utility theory in decision-making based on income changes and costs.

Analyze the impact of income changes on market demand for a product.

Understand the effect of complementary and substitute goods on market demand.

Calculate the necessary tax to achieve a desired decrease in consumption based on price elasticity of demand.

---

Definitions:

Prehistoric Ancestors

Refers to the human species and their relatives who lived before the advent of written records.

Sexual Partners

Individuals with whom one engages in sexual activity.

Evolutionary Psychologists

Scholars who study the mental adaptations of humans to a changing environment, from an evolutionary perspective.

Biological Change

Alterations in the physiological or genetic characteristics of living organisms, which can occur naturally or through external influences.