首页
外语
计算机
考研
公务员
职业资格
财经
工程
司法
医学
专升本
自考
实用职业技能
登录
考研
Less than 40 years ago in the United States, it was common to change a one-dollar bill for a dollar’s worth of silver. That is b
Less than 40 years ago in the United States, it was common to change a one-dollar bill for a dollar’s worth of silver. That is b
admin
2015-01-15
45
问题
Less than 40 years ago in the United States, it was common to change a one-dollar bill for a dollar’s worth of silver. That is because the coins were actually made of silver. But those days are gone. There is no silver in today’s coins. When the price of the precious metal rises above its face value as money, the metal will become more valuable in other uses. Silver coins are no longer in circulation because the silver in coins is worth much more than their face value. A silver firm could find that it is cheaper to obtain silver by melting down coins than by buying it on the commodity markets. Coins today are made of an alloy of cheaper metals.
Gresham’s Law, named after Sir Thomas Gresham, argues that "good money" is driven out of circulation by "bad money". Good money differs from bad money because it has higher commodity value.
Gresham lived in the 16th century in England where it was common for gold and silver coins to be debased. Governments did this by mixing cheaper metals with gold and silver. The governments could thus make a profit in coinage by issuing coins that had less precious metal than the face value indicated. Because different mixings of coins had different amounts of gold and silver, even though they bore the same face value, some coins were worth more than others as commodities. People who dealt with gold and silver could easily see the difference between the "good" and the "bad" money. Gresham observed that coins with a higher content of gold and silver were kept rather than being used in exchange, or were melted down for their precious metal. In the mid-1960s when the U. S. issued new coins to replace silver coins, Gresham’s law went right in action.
Which of the following statements is correct according to this article?
选项
A、Good money refers to gold or silver coins while "bad money" metallic coins.
B、Good money refers to gold or silver coins while "bad money" alloy coins.
C、Issuance of coins to replace the silver coins intended to save money.
D、Present coins are cheaper than its face value.
答案
D
解析
正确答案可以从第一段的后半部分得出。A项和B项很明显比较牵强。
转载请注明原文地址:https://www.kaotiyun.com/show/Fvhi777K
0
在职申硕(同等学力)英语
相关试题推荐
Musiccomesinmanyforms;mostcountrieshaveastyleoftheirown.【C1】______theturnofthecenturywhenjazz(爵士乐)wasborn,Am
Manyobserversbelievethatcountrywillremaininastateofchaosifitfailstosolveitschronicfoodshortageproblem.
Safetyofficialshaveearnestlyquestionedwhethertheincreaseduseofsyntheticmaterialsheightenstheriskoffire.
ThecurrentemergencyinMexicoCitythathastakenoverourlivesisnothingIcouldeverhaveimaginedformeormychildren.
ThecollapseoftheEarth’smagneticfield—whichguardstheplanetandguidesmanyofitscreatures—appearstohavestartedseri
Althoughitseemedtotakeallherstrength,thepatient______upasmiletohermom.
Therearesomeearthphenomenayoucancounton,butthemagneticfield,somesay,isnotoneofthem.Itfluctuatesinstrength
随机试题
过滤方法有几种?分别适用于什么场合?
A.肝脓肿B.脾肿大C.胃肠胀气D.肺气肘E.胆囊炎肝浊音界扩大见于【】
铁的吸收部位()
犯罪概念的本质特征是()。
某城市商业银行在合并多家城市信用社的基础上设立,其资产质量差,经营队伍弱,长期以来资本充足率、资产流动性、存贷款比例等指标均不能达到监管标准。请根据有关法律规定,回答下列问题。经采取处置措施,该银行仍不能在规定期限内恢复正常经营能力,且资产情况
在城市排水区界限内,应根据()划分排水流域。
从全班60名学生中按学号随机抽取6名学生调查其上网情况。6名学生的上网时间(小时/周)分别是:16、12、5、5、10和18。请根据上述资料从下列备选答案中选出正确答案。可以采用()来反映学生上网时间的差异程度。
法体现了统治阶级中最高领导人的意志。()
在武汉某高校内,种有若干棵樱花树,每棵树之间间隔相同。小丁同学在三月樱花开放的一天以相同的速度走在樱花树下,他从第1棵树走到第31棵树用了15分钟,他继续往前走了一阵。经过几棵树后折回去,当他回到第5棵树时共用了40分钟,则小丁同学在折回前继续往前经过了(
Mr.Smithwasa【B1】______industrialist,buthewasnotsatisfiedwithlife.Hedidn’tsleepwellandhisfooddidnot【B2】______w
最新回复
(
0
)