Most Western nations were on the gold standard for currency exchange rates from 1876 until 1914
Today we have several different exchange rate regimes in use, but most larger economy nations have freely floating exchange rates today and are not obligated to convert their currency into a predetermined amount of gold on demand. Currently several parties still call for the "good old days" and a return to the gold standard. Develop an argument as to why this is a good idea.
What will be an ideal response?
Answer: The gold standard forces a nation to maintain sufficient reserves of gold to back its currency's value. This helps control inflation, as a country cannot print additional money without sufficient gold to back it up. The gold standard eases international transactions as there is little uncertainly about exchange rates for trade with foreign countries.
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Marco is working on promoting his company's Glazer brand of electronic razors
Preliminary surveys have revealed that even though a sizable portion of the target market has developed a liking for the product due to innovative advertising, few customers would actually consider replacing their current razors with Glazers. How can Marco modify the communications program to get customers to favor Glazers over other brands?
An example of a variable cost is:
A) a payment to your raw materials supplier. B) a lease payment on a piece of equipment. C) a mortgage payment on buildings. D) a monthly licensing fee for a software package.