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What was a monetary system in which the government would give people silver and gold in exchange for paper currency?
Wiki User
∙ 12y ago
bimetallism
Wiki User
∙ 12y ago
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What was the name given to the people who wanted the government to buy the silver that was being mined in the West and use it to back currency?
minters
Who are the people of government?
the people of the government is everyone.
Why does the government intervenes in the operation of a market system?
The Government has to intervene when the price of essential commodities go up beyond the reach of the common people. It has to take remedial measures like reducing bank interest rate when the inflation is at its peak.Devaluation of currency, printing extra currency notes are the other measures to check inflation to an affordable level. When the black marketeers make a mockery of the marketing system, when unscrupulous traders do not hesitate to mix spurious items in baby food and medicine, it is obvious that the Government cannot remain a silent spectator and has to intervene.
Philippine government is a government of the people by the people and for the people?
Dahlia Elliot!
What is a government where the people have the power?
A democracy is a form of government where the people have the power to vote on how their government acts.
Dongs do you have them?
Vietnamese people do ... it's part of their monetary currency!
What is Fractional Currency exactly?
Fractional Currency was used during the Civil War due to the fact that many people were hoarding coins for the metal and gold, not for the monetary value. Fractional currency is small denominations that are less than the standard monetary unit. For example, paper money that is worth less than $1. Fractional currency was commonly issued during the Civil War by the government.
Who benefit inflation?
Probably the people who exchange their currency to a different currency before an inflation, then exchange that foreign currency back, therefore making a profit.
How does Forex currency exchange work?
Forex currency exchange works by one person paying another currency for that currency. Generally, there are always rates that people trade with, and they are always changing.
What is monetary principle?
The monetary unit principle states that people can only record business transactions that can be expressed in terms of a currency. This principle is generally accepted among people.
What is Different between currency paper and notebook paper?
Currency is something people are willing to accept in exchange for goods or services. Dollar bills and coins are example of currency. Most people will not accept notebook paper in exchange for providing a good or service, and thus it is not considered currency.
What is the meaning of monetary board?
A monetary board is a group of people that are in charge of the money supply of currency. They are in charge of imposing parameters for money printing, interest rates, cost, etc.
According to thomas hobbes's concept of social contract what do people exchange for protection by the government?
Hobbes believe people exchange many personal freedoms for government protection
Why can't the government just print up more money if we are not on the gold standard?
Whether we are on gold standard or not, any currency depends upon the trust reposed in the government by the public. Merely printing currency will only add more money in the hands of the people without corresponding increase in the volume of fiduciary holding of the monetary authority. Public trust will be lost when the purchasing power of money falls due to an excess of currency in circulation.
What do people Exchange for protection by the government according to Thomas hobbies concept of social contract?
According to Thomas Hobbes, people exchange some of their individual freedoms and rights for protection and security by the government. This exchange forms the basis of the social contract, where individuals agree to follow the laws and authority of the government in exchange for the maintenance of order and protection of their rights.
Why do people work for everything the government back a few thousand years ago people didn't have to pay for anything.?
Currency, or money, has evolved over time. Initially the best form of payment was to exchange/barter/trade services. i.e. The blacksmith would repair chains in exchange for food from the farmer.
According to thomas hobbe's concept of the social contract what do people exchange for protection by the government?
Hobbes believe people exchange many personal freedoms for government protection
