What happen to value of gold-made from inexpensive materials, Microeconomics

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What happen to value of gold-made from inexpensive materials

Throughout history, the most popular form of money has been gold.

a. Give three reasons why gold has been such a popular form of money.

b. What would happen to the value of gold if people discovered that it could easily be made at home from inexpensive materials? Explain your answer.

c. Suppose that a nation's money supply consisted of copper, silver, and gold coins, and paper currency. Also suppose that the worldwide value of gold began to increase dramatically. Explain what holders of gold could be expected to do with their gold coins.

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Microeconomics: What happen to value of gold-made from inexpensive materials

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Microeconomics: What happen to value of gold-made from inexpensive materials

Reference No:- TGS047243

Have a Question? (oR Write a Review)

Recent Questions Asked Microeconomics

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Microeconomics: What happen to value of gold-made from inexpensive materials

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Q : Draft a one-half page memorandum

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Q : What is the consolidated balance for the equipment account

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Q : Determining diluted earnings per share

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