Conceptual decision makers are contemplative and structure the decision situation as a mental model

In terms of the gold standard, the amount of currency needed to purchase one ounce of gold was referred to as the:

A. gold to bond ratio. B. gold reserve ratio. C. gold mix ratio. D. gold par value. E. gold net value.

Which of the following statements is true about the gold standard?

A. Given a common gold standard, the value of any currency in units of any other currency was easy to determine. B. Establishing a gold standard seemed impractical as the volume of international trade expanded in the wake of the Industrial Revolution. C. A drawback of the gold standard was that it failed to provide a mechanism for achieving balance-of-trade equilibrium by all countries. D. Under the gold standard, when a country has a trade deficit, there will be a net flow of gold from the other countries to that country. E. The gold standard refers to the use of gold coins as a medium of exchange between countries involved in international trade.