A commodity money standard exists when exchange rates are:
a. artificially pegged to the price of oil.
b. fixed in terms of gold, thus creating flexible exchange rates between countries.
c. fixed in terms of gold, thus creating fixed exchange rates between countries.
d. allowed to fluctuate based on the values of different currencies.
e. fixed, based on the values of different currencies, in terms of some commodity.
e
You might also like to view...
A ________ curve means that ________
A) horizontal demand; a change in price does not change total revenue B) horizontal demand; the elasticity of demand is less than 1 C) horizontal supply; the elasticity of supply is infinite D) horizontal supply; the elasticity of demand is infinite E) vertical demand; a change in price does not change total revenue
Refer to the graph below.
Which of the shifts explains what would happen to the production possibility curve if restrictions were imposed on tuna fishing?
A. I B. II C. III D. IV