is ____. (1 point)? 1. The biggest problem when using metals (or cowry shells) for trading is ____. (1 point)

no one can agree on an exchange rate

large amounts become very heavy to carry around

they break over time

people cannot trust their value

2. The gold standard is ____. (1 point)

paper currency based

no longer used by many countries

used by all countries today

based on measurements in pounds

3. When using metal as the exchange basis, two coins can have the same value if ____. (1 point)

they are the same weight but different metals

they are different weights but the same metals

they are different weights but different metals

they are the same weight and the same metal


4. If gold is currently trading at $800.00/oz. and you inherited a gold coin worth $1600.00, how
much does the coin weigh? (1 point)

2 oz.

4 oz.

24 oz.

12 oz.