« previous next »

Author Question: Explain the three rules that countries must follow to maintain a gold standard. What will be an ... (Read 72 times)

clmills979

  • Hero Member
  • *****
  • Posts: 551
on: Jun 30, 2018
Explain the three rules that countries must follow to maintain a gold standard.
 
  What will be an ideal response?

Question 2

Mercantilists perceived trade as a zero sum game.
 
  Indicate whether the statement is true or false
International Economics ¦ Gerber ¦ 6th Edition
Buy Test-Bank


otokexnaru

  • Sr. Member
  • ****
  • Posts: 314
Reply #1 on: Jun 30, 2018
Answer to Question 1

First, they must fix the value of their currency unit in terms of gold. The second rule of the gold standard is that nations keep the supply of their domestic money fixed in some constant proportion to their supply of gold. The third rule of a gold standard is that nations must stand ready and willing to provide gold in exchange for their home country currency.

Answer to Question 2

TRUE


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Today, nearly 8 out of 10 pregnant women living with HIV (about 1.1 million), receive antiretrovirals.

Did you know?

Calcitonin is a naturally occurring hormone. In women who are at least 5 years beyond menopause, it slows bone loss and increases spinal bone density.

Did you know?

Drying your hands with a paper towel will reduce the bacterial count on your hands by 45–60%.

Did you know?

A serious new warning has been established for pregnant women against taking ACE inhibitors during pregnancy. In the study, the risk of major birth defects in children whose mothers took ACE inhibitors during the first trimester was nearly three times higher than in children whose mothers didn't take ACE inhibitors. Physicians can prescribe alternative medications for pregnant women who have symptoms of high blood pressure.

Did you know?

The use of salicylates dates back 2,500 years to Hippocrates's recommendation of willow bark (from which a salicylate is derived) as an aid to the pains of childbirth. However, overdosage of salicylates can harm body fluids, electrolytes, the CNS, the GI tract, the ears, the lungs, the blood, the liver, and the kidneys and cause coma or death.

Standard Model of Elementary Particles Standard Model of Elementary Particles
This is gold!!!! This is gold!!!!
Relative Energy Consumption per Person for Selected Countries Relative Energy Consumption per Person for Selected Countries
TEN RULES OF PERFORMANCE IN A REDESIGNED HEALTH CARE SYSTEM TEN RULES OF PERFORMANCE IN A REDESIGNED HEALTH CARE SYSTEM
Hepatitius b vaccinations and follow-up Hepatitius b vaccinations and follow-up
Elementary particles included in the Standard Model Elementary particles included in the Standard Model
Video: Introduction to Sickle Cell Anemia

For a complete list of videos, visit our video library