Answered

What is bimetallism?

A. switching back and forth between gold and silver according to economic circumstances
B. a nation's use of two different metals to back up its currency
C. the silver standard
D. the gold standard

Answer :

ITISWATITITZGO

Answer:

a nation's use of two different metals to back up its currency

Explanation:

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The correct answer is B.

It is referred to as bimetallism when a country uses two distinct metals to support its currency.

What is bimetallism and what was its purpose?

  • Bimetallism is a monetary system that's based on the value of two metals, usually gold and silver.
  • Bimetallism was very popular during the early and late 1800's.
  • The most significant benefit of bimetallism is the fact that it allows countries to keep a larger reserve of precious metals to circulate money.

The use of two separate metals, such as gold and silver, as the foundation of a country's monetary system is known as bimetallism.

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