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The demands for gold during this period were as a speculative vehicle, and for its primary use in the foreign exchange markets financing international trade. The major effect of the increase in gold demand by the public and Treasury was to reduce exports of gold and increase the Greenback price of gold relative to purchasing power. [40]
Since 1968 the price of gold has ranged widely, from a high of $850/oz ($27,300/kg) on 21 January 1980, to a low of $252.90/oz ($8,131/kg) on 21 June 1999 (London Gold Fixing). [ 4 ] The analysis of this period is based on the work of Robert Solow and is rooted in macroeconomic theories of trade including the Mundell–Fleming model . [ 5 ]
The price–specie flow mechanism is a model developed by Scottish economist David Hume (1711–1776) to illustrate how trade imbalances can self-correct and adjust under the gold standard. Hume expounded his argument in Of the Balance of Trade , which he wrote to counter the Mercantilist idea that a nation should strive for a positive balance ...
Whey is the primary ingredient in most protein powders, which are used primarily by athletes and bodybuilders to obtain the necessary amounts of protein for muscle building/maintenance on a daily basis. Whey protein has a high level of leucine, [21] one of the three branched-chain amino acids, making it ideal for muscle growth and repair.
This type of whey does not contain glycomacropeptide, which is formed only after the addition of rennet. [15] [16] [17] There is evidence that whey protein is more bio-available than casein or soy protein. [18] [19] Whey protein is commonly marketed as a dietary supplement, typically sold in powdered form for mixing into beverages. [2]
The Nixon shock was the effect of a series of economic measures, including wage and price freezes, surcharges on imports, and the unilateral cancellation of the direct international convertibility of the United States dollar to gold, taken by United States president Richard Nixon on 15 August 1971 in response to increasing inflation.