Based on the U.S. historical experience with the gold standard, we can conclude that
A) the gold standard guarantees price stability but not economic stability.
B) the standard guarantees economic stability but not price stability.
C) the gold standard guarantees both economic and price stability.
D) the gold standard guarantees neither economic nor price stability.
Answer: D
You might also like to view...
As the income of bus riders increased, the wages of bus drivers increased simultaneously. How does this affect the market for bus rides (inferior good)?
a. The demand curve will shift to the left; the supply curve will shift to the left b. The demand curve will shift to the left; the supply curve will shift to the right c. The demand curve will shift to the right; the supply curve will shift to the left d. The demand curve will shift to the right; the supply curve will shift to the right
In long-run equilibrium, the typical perfectly competitive firm has no incentive to:
a. change output. b. change plant size. c. enter or leave the industry. d. do any of these.
Many studies show that price and concentration ratios are
a. not related b. inversely related c. positively related d. constant e. both higher in perfectly competitive markets
The economic decisions of central planners often are wrong because they have little understanding of
a. local economic conditions b. bureaucracies c. Karl Marx's theories d. democracy