Sir Dudley North said that, "…when Money is scarce, Bullion is coyn'd; when Bullion is scarce, Money is melted." He said that in the context:
a. When the demand for money increases due to an increase in economic activity, more coins will be minted to facilitate that trade
b. When the demand for money decreases due to a decrease in economic activity, more coins will be minted to encourage trade to increase
c. When the supply of money is low, counterfeiting will increase
d. When the supply of money is high, Ted Bullion will reduce its consumption
a
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