The gold standard: must be established before a country can adopt a fixed exchan

Question

The gold standard: must be established before a country can adopt a fixed exchange rate system. refers to the backing of currency in circulation by an equivalent amount 0f gold or other precious metal century, but was phased was used in the industrialized world including the U.S. at the beginning of the twentieth century, but was phased out in the U.S. in 1971. both a) and b) are correct both b) and c) are correct In 2012. Congress debated whether to extend the temporary payroll tax cut for another year. This policy would be an example of: An automatic stabilizer Monetary policy Discretionary fiscal policy Open market operations Nominal income is The average amount of a paycheck The normative amount that a worker should be paid The dollar value of pay before being adjusted for inflation. The purchasing power of income The maximum amount a worker can be paid during a recession. Income tax receipts lend to during an economic expansion because Remain unchanged, incomes fall Rise; incomes rise Fall: incomes fall Rise; incomes fall Fall; incomes rise Fiat money is universally accepted in exchange: solely because of its usefulness and acceptability in exchange and by guarantees by a central government. solely because it has precious metals to back it up only because it has intrinsic value as a commodity. only because it can be converged to other forms of money. solely because it is declared so by tradition.

Explanation / Answer

24) E

25) C

26) D

27) B

28) C

29) C

30) B

31) A

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