If the market ratio of silver to gold is 16 to 1 and the mint ratio is 15 to 1,
a. people will cease to use gold and silver as money.
b. the Treasury will be forced to issue paper money.
c. gold is undervalued at the mint.
d. silver is undervalued at the mint.
c. gold is undervalued at the mint.
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A signal is
a. anything used to show employees in a market that demand in a profession has increased b. anything used to show employees in a market that supply in a profession has increased c. a proxy used to indicate possession of unobservable qualities required for a particular job d. a way for employers to discriminate against certain groups of people e. a way for employees to learn to stay out of certain professions
A minimum wage law creates a price (or wage) _____ and a labor _____.
A. floor; shortage B. floor; surplus C. ceiling; shortage D. ceiling; surplus