Professional Documents
Culture Documents
Answer: A
Topic: Bimetallism: Before 1875
Accessibility: Keyboard Navigation
5) The monetary system of bimetallism is unstable. Due to the fluctuation of the commercial value
of the metals,
A) the metal with a commercial value lower than the currency value tends to be used as metal and
is withdrawn from circulation as money (Gresham's Law).
B) the metal with a commercial value higher than the currency value tends to be used as money
(Gresham's Law).
C) the metal with a commercial value higher than the currency value tends to be used as metal and
is withdrawn from circulation as money (Gresham's Law).
D) none of the options
Answer: C
Topic: Bimetallism: Before 1875
Accessibility: Keyboard Navigation
6) In the 1850s the French franc was valued by both gold and silver, under the official French ratio
which equated a gold franc to a silver franc 15½ times as heavy. At the same time, the gold from
newly discovered mines in California poured into the market, depressing the value of gold. As a
result,
A) the franc effectively became a silver currency.
B) the franc effectively became a gold currency.
C) silver became overvalued under the French official ratio.
D) the franc effectively became a silver currency and silver became overvalued under the French
official ratio.
Answer: B
Topic: Bimetallism: Before 1875
Accessibility: Keyboard Navigation
7) Gresham's Law states that
A) bad money drives good money out of circulation.
B) good money drives bad money out of circulation.
C) if a country bases its currency on both gold and silver, at an official exchange rate, it will be the
more valuable of the two metals that circulate.
D) none of the options.
Answer: A
Topic: Bimetallism: Before 1875
Accessibility: Keyboard Navigation
8) Suppose that the pound is pegged to gold at £20 per ounce and the dollar is pegged to gold at $35
per ounce. This implies an exchange rate of $1.75 per pound. If the current market exchange rate is
$1.80 per pound, how would you take advantage of this situation? Hint: assume that you have
$350 available for investment.
A) Start with $350. Buy 10 ounces of gold with dollars at $35 per ounce. Convert the gold to £200
at £20 per ounce. Exchange the £200 for dollars at the current rate of $1.80 per pound to get $360.
B) Start with $350. Exchange the dollars for pounds at the current rate of $1.80 per pound. Buy
gold with pounds at £20 per ounce. Convert the gold to dollars at $35 per ounce.
C) both of the options
D) none of the options
Answer: A
Topic: Bimetallism: Before 1875
Accessibility: Keyboard Navigation
9) Suppose that the pound is pegged to gold at £20 per ounce and the dollar is pegged to gold at $35
per ounce. This implies an exchange rate of $1.75 per pound. If the current market exchange rate is
$1.60 per pound, how would you take advantage of this situation? Hint: assume that you have
$350 available for investment.
A) Start with $350. Buy 10 ounces of gold with dollars at $35 per ounce. Convert the gold to £200
at £20 per ounce. Exchange the £200 for dollars at the current rate of $1.80 per pound to get $360.
B) Start with $350. Exchange the dollars for pounds at the current rate of $1.60 per pound. Buy
gold with pounds at £20 per ounce. Convert the gold to dollars at $35 per ounce.
C) both of the options
D) none of the options
Answer: B
Topic: Bimetallism: Before 1875
Accessibility: Keyboard Navigation
Another random document with
no related content on Scribd:
262. «Quando osservavamo con insultante dispregio que’ secoli che ci
trovarono servi e ci lasciarono uomini, non somigliavamo a persona che
siasi dimenticata della famiglia e de’ primi suoi anni? Or ne troviamo la
ricordanza; e senza ribramarlo, perchè il passato compì la sua
destinazione, e l’avvenire deve crescere per esso non già con esso, non
possiamo che ammirare secoli di tanta vita, ecc.» Epoca xii, p. 334.
263. Pur dianzi un giornale grave contrapponeva a giudizj da noi dati nella
presente opera, i giudizj portati da Lamartine nel Cours familier de
littérature; e un giornale leggero riproduceva questo parallelo,
applaudendovi.
269. Teme che la Russia ci mandi per Odessa i grani, sicchè i paesi d’Italia si
cambierebbero in deserti. Nuovo prospetto, tom. v. p. 127 e Filosofia
della statistica, tom. ii. p. 159.
270. «Il dazio sulle importazioni delle manifatture estere è ottimo finchè le
fabbriche nazionali bambine devono lottare colle estere adulte».
Filosofia della statistica, Arti e mestieri.
281. Nel 1874 si pronunziò una divisione fra gli economisti italiani: gli uni
volendo l’assoluta astensione dello Stato nelle ragioni economiche, gli
altri ammettendone, anzi credendone necessaria una moderata
ingerenza.
283. Messedaglia, Levi, Mora, Zanini, Boccardo, Leone Carpi, Luzzato, ecc.
285. Ora si sta eseguendo una nuova triangolazione di tutta la penisola, sotto
la presidenza del padre Secchi.
286. Il Governo italiano gli commise nel 1811 il più gran telescopio che
ancora si fosse veduto in Italia. Il fisico Gualtieri di Modena ne pretese il
merito, e ne fabbricò uno più grande, cioè di undici piedi di fuoco e nove
e mezzo d’apertura, che darà luce doppia di quello d’Herschel.
291. Accenniamo fra le sue scoperte quella del piccolo verme entro le perle
degli unio e degli anodonti, dalla cui molestia crede originata la preziosa
concrezione.
292. È curioso a notare che erano preti anche i più di quelli che, nel secolo
passato, ridestavano l’agricoltura in Toscana: il pievano Paoletti, il
parroco Landeschi, il preposto Lastri, gli abati Lupi, Lami, Manetti,
Giovan Gualberto Franceschi, l’arcidiacono Giuseppe Albizzi, il canonico
Zucchini, il monaco Soldani, e a tacer altri, il canonico Ubaldo
Montelatici che nel 1753 fondava l’accademia de’ Georgofili. Così
canonico era il Guasco agronomo piemontese, abati il Genovesi e lo
Scrofani e molti della Società patriotica a Milano.
293. L’uso dell’acqua come rimedio esterno è raccomandato anche dal Nessi
medico comasco (1741-1820), che diede un buon corso d’ostetricia.
295. Il bellunese Zanon pretende ora di saper dare solidità lapidea alle
sostanze animali, mentre Gorini crede poterne mantenere la morbidezza
e le altre qualità fisiche.
296. Alla confutazione che fino dal principio del secolo ne faceva il Moreschi,
professore d’anatomia a Bologna, è messa quest’epigrafe tolta dal
Menkenio, che proverebbe già da un pezzo conosciuta quella teoria:
Quis nescit nostris temporibus extitisse plures, qui novam quamdam
artem exploratoriam commenti, intimos mentis humanæ recessus
perreptarunt, et iræ, avaritiæ, cupiditatis nunc semiuncium, nunc assem
deprehendisse sibi visi sunt?
1.D. The copyright laws of the place where you are located also
govern what you can do with this work. Copyright laws in most
countries are in a constant state of change. If you are outside
the United States, check the laws of your country in addition to
the terms of this agreement before downloading, copying,
displaying, performing, distributing or creating derivative works
based on this work or any other Project Gutenberg™ work. The
Foundation makes no representations concerning the copyright
status of any work in any country other than the United States.
1.E.6. You may convert to and distribute this work in any binary,
compressed, marked up, nonproprietary or proprietary form,
including any word processing or hypertext form. However, if
you provide access to or distribute copies of a Project
Gutenberg™ work in a format other than “Plain Vanilla ASCII” or
other format used in the official version posted on the official
Project Gutenberg™ website (www.gutenberg.org), you must, at
no additional cost, fee or expense to the user, provide a copy, a
means of exporting a copy, or a means of obtaining a copy upon
request, of the work in its original “Plain Vanilla ASCII” or other
form. Any alternate format must include the full Project
Gutenberg™ License as specified in paragraph 1.E.1.
• You pay a royalty fee of 20% of the gross profits you derive from
the use of Project Gutenberg™ works calculated using the
method you already use to calculate your applicable taxes. The
fee is owed to the owner of the Project Gutenberg™ trademark,
but he has agreed to donate royalties under this paragraph to
the Project Gutenberg Literary Archive Foundation. Royalty
payments must be paid within 60 days following each date on
which you prepare (or are legally required to prepare) your
periodic tax returns. Royalty payments should be clearly marked
as such and sent to the Project Gutenberg Literary Archive
Foundation at the address specified in Section 4, “Information
about donations to the Project Gutenberg Literary Archive
Foundation.”
• You comply with all other terms of this agreement for free
distribution of Project Gutenberg™ works.
1.F.
Most people start at our website which has the main PG search
facility: www.gutenberg.org.