Question 4 The mint parity rate is determined by: comparing the amount of gold necessary to...
Question 4
The mint parity rate is determined by:
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comparing the amount of gold necessary to buy the same number of units of two different currencies. |
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determining the cost of minting a certain number of coins representing a certain currency. |
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comparing the gold standard rate of a currency with its exchange rate. |
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comparing the exchange rate changes of a currency over a period of time. |
Homework Answers
The correct option is Option 1: comparing the amount of gold necessary to buy the same number of units of two different currencies.
On this basis only the exchange rate was decide in earlier days when gold standard was followed. The exchange rate was decided with respect to gold content in two currencies.
Eg: If currency A can buy 100 gm of gold, and currency B can buy 50 gm of gold, then exchange rate is 1A = 2B
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