If more dollars are needed to buy an ounce of gold than before, the implication is that the dollar is worth more
Indicate whether the statement is true or false.
FALSE
The United States returned to the gold standard in 1934, raising the dollar price of gold from $20.67 per ounce to $35 per ounce. Because more dollars were needed to buy an ounce of gold than before, the implication was that the dollar was worth less. This effectively amounted to a devaluation of the dollar relative to other currencies.
Business
You might also like to view...
The added value delivered by the brand over the functional benefits or book value of the product, service, or company is ____.
A. Brand Equity B. Brand Awareness C. Service Surplus D. Market Value
Business
Under Armour, the famous clothing line, is an example of what category of trademark?
A. Descriptive B. Arbitrary C. Fanciful D. Secondary E. Suggestive
Business