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The Drop in the Buying Power of an Ounce of Gold

Question 78

Multiple Choice

The drop in the buying power of an ounce of gold in sixteenth-century Europe was due to


A) gold being imported from the New World.
B) silver becoming more popular than gold as a medium of exchange.
C) hoarding of gold by the French government.
D) a decline in the purity of the gold being circulated.
E) laws banning the use of gold in commercial transactions.

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