Outlines of economics developed in a series of problems by Chicago. University. Dept. of political economy

Author:Chicago. University. Dept. of political economy. [from old catalog]
Language: eng
Format: epub, pdf
Tags: Economics
Publisher: Chicago, Ill., The University of Chicago press
Published: 1912-03-25T05:00:00+00:00

3. If Europe ceased to use gold for money would that action affect the value of American gold coins ? If so, how and when ?

4. If dentists discovered a cheap filling for teeth which was better than gold would it tend to alter (a) the demand for gold? (b) the value of the gold eagle ?

5. Should you expect the increasing use of platinum in jewelry to change the value of gold ?

6. Is gold durable ? Is it ordinarily destroyed in the uses to which it is put ? Suggest some of the ways in which gold is so used as not to be recovered for subsequent uses.

7. To what extent is the supply of gold derived from current production?

8. Does the value of gold correspond to marginal cost of production ? How is the relation between the value and the cost of production of gold influenced by (a) the speculative character of gold mining ? (b) the amount of fixed capital involved in the production of gold ?

9. The introduction of the cyanide process for extraction of gold so decreased the cost of production that refuse heaps of old mines were worked over again. What effects should you expect this to have upon the use of gold in the arts? upon its use as money? What would be the effect upon its value in the arts? upon its value as money ?

10. A certain amount of gold can be extracted from sea water, yet this extraction is not generally attempted. Why not? Are there any conditions under which this might be resorted to ?

11. It is said that the demand for money consists of the supply of goods offered for sale, and that the supply of money constitutes the demand for these goods. Explain. Is the validity of this statement affected by the use of checks and other substitutes for money ?

12. How would the value of money be affected by doubling the amount in circulation ? To what extent would this result be modified by (a) the use of substitutes for money ? (b) the fact that one piece of money may effect many or few or no exchanges in the course of a day, according to circumstances ? Would the use of substitutes, or the rapidity of circulation, be affected by the scarcity of money ?

13. What is the "quantity theory" of the value of money? According to that theory is the value of money independent of cost of production ? Explain.

14. Can five ounces of gold set aside for use in the arts have a different value from the same amount of gold in a coin ? If so, why ? If not, why not ? Answer the same questions with reference to silver.

15. Would a seigniorage tend to affect the value of money, and if so, how ?

16. Is the value of the dollar fixed and stable ?

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