Outlines of Economics
Outlines of Economics
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In our eReader you can find the full English version of the book. Read Outlines of Economics Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book Outlines of Economics
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Suppose the monetary system of a country is based on a gold standard. War is declared. The government concludes to issue paper money which it decrees shall be legal tender and which it promises to redeem after the war is over. Doubts arise whether it will ever be redeemed. If someone owed you, would he pay you in paper or in gold ? Why ? Should you have any option in the matter ? Would gold remain in circulation ?
5. State Gresham's Law, and give an illustration from the mone- tary history of t...he United States of a case where it operated.
EXCHANGE 75 6. Is there any reason why the proportion of pure metal in the subsidiary coins should be considerably lower than the proportion in the standard coin ?
/) The Kinds of Standard i. The Single Standard (monometallism) ii. The Double Standard (bimetallism) iii. The Limping Standard iv. The Tabular Standard and the Method of Index Numbers V. The Paper Standard (fiat money) Several kinds of monetary standard have been adopted, at one time or another, by different nations; and others have been suggested.
What to read after Outlines of Economics?
You can find similar books in the "Read Also" column, or choose other free books by University of Chicago Dept of Political Economy to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
Suppose the monetary system of a country is based on a gold standard. War is declared. The government concludes to issue paper money which it decrees shall be legal tender and which it promises to redeem after the war is over. Doubts arise whether it will ever be redeemed. If someone owed you, would he pay you in paper or in gold ? Why ? Should you have any option in the matter ? Would gold remain in circulation ?
5. State Gresham's Law, and give an illustration from the mone- tary history of t...he United States of a case where it operated.
EXCHANGE 75 6. Is there any reason why the proportion of pure metal in the subsidiary coins should be considerably lower than the proportion in the standard coin ?
/) The Kinds of Standard i. The Single Standard (monometallism) ii. The Double Standard (bimetallism) iii. The Limping Standard iv. The Tabular Standard and the Method of Index Numbers V. The Paper Standard (fiat money) Several kinds of monetary standard have been adopted, at one time or another, by different nations; and others have been suggested.
What to read after Outlines of Economics?
You can find similar books in the "Read Also" column, or choose other free books by University of Chicago Dept of Political Economy to read onlineMoreLess
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