What is the gold standard?
(A) A system that uses actual gold coins as a country's money.
(B) A system in which a country's money is backed with gold.
(C) A money system in which the paper currency is good in more than one country.
(D) A currency system in which each dollar is worth 1/20 of an ounce of gold.
Ans: (D) A currency system in which each dollar is worth 1/20 of an ounce of gold.
Economics
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The long-run Phillips curve is a (an) _____________line at the natural rate of unemployment.
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