Author Question: The gold standard fixes the: a. future price of gold in terms of silver. b. price of gold in terms ... (Read 303 times)

penguins · **on:** Jun 30, 2018

The gold standard fixes the:
a. future price of gold in terms of silver.
b. price of gold in terms of international currencies.
c. future price of silver in terms of gold.
d. money supply in terms of paper currency.
e. past exchange rate and the future exchange rate.

Question 2

In the mid 1990s countries of the world exported 6.5 trillion dollars worth of goods and services. How large were total world imports of goods and services during this period? Explain your answer.

manuelcastillo · **Reply #1 on:** Jun 30, 2018

Answer to Question 1

b

Answer to Question 2

For the world as a whole, imports have to equal exports. Because we ship no goods and services to other planets, all trade takes place between countries on earth. One country's exports are another country's imports. This reciprocity in trade reminds us that all countries gain from trade, but not necessarily in equal amounts.