Under the gold standard of a century ago, the world’s commerce
A. nearly collapsed before the beginning of World War I.
B. was at the mercy of gold discoveries.
C. grew steadily without interruption from monetary disturbances.
D. grew when the gold stock grew slowly, and shrank when gold discoveries increased.
Answer: B
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An increase in the money supply will cause which of the following to occur?
A) a rightward shift of the aggregate supply curve B) a leftward shift of the aggregate demand curve C) a leftward shift of the aggregate supply curve D) a rightward shift of the aggregate demand curve
One of the distinguishing differences between periods of low inflation and periods of high inflation is that
a. low inflation periods are short-lived. b. high inflation periods are short-lived. c. high inflation periods are long-lived. d. low inflation leads to high inflation.
Interest and principal on long-term debt are considered
a. long-term liabilities b. fixed liabilities c. liquid liabilities d. general liabilities e. current liabilities
A monopsonist is a
A. firm that is the single purchaser of a factor of production. B. firm with partial control over an industry. C. firm operating in a regulated industry. D. group of firms, much like a cartel, that restricts the demand for labor in a market. E. firm that competes for labor but sells its output in a noncompetitive market.