Please choose all of the following that are correct:

$1.$ Gresham$$s Law states that

a$.$ bad money drives good money out of circulation.

b$.$ good money drives bad money out of circulation.

c$.$ if a country bases its currency on both gold and silver, at an official exchange rate, it will be the more valuable of the two metals that circulate.

d$.$none of the options.

$2.$ The international monetary system went through several distinct stages of evolution. These stages are summarized, in alphabetic order, as follows: $($i$)$ Bimetallism; $($ii$)$ Bretton Woods system; $($iii$)$ Classical gold standard; $($iv$)$ Flexible exchange rate regime; $($v$)$ Interwar period. The chronological order that they actually occurred is:

a$.$ iii$),($i$),($iv$),$ and $($v$)$

b$.($i$),($iii$),($v$),$ and $($iv$)$

c$.($vi$),($i$),($iii$),($ii$),$ and $($v$)$

d$.($v$),($ii$),($i$),($iii$),$ and $($iv$)$

$3.$ Suppose that the pound is pegged to gold at $20$ per ounce and the dollar is pegged to gold at $$35$ per ounce. This implies an exchange rate of $$1\mathrm{.}75$ per pound. If the current market exchange rate is $$1\mathrm{.}60$ per pound, how would you take advantage of this situation? $($Hint: assume that you have $$350$ available for investment.$)$

a$.$ Start with $$350.$ Buy $10$ ounces of gold with dollars at $$35$ per ounce. Convert the gold to $200$ at $20$ per ounce. Exchange the $200$ for dollars at the current rate of $$1\mathrm{.}80$ per pound to get $$360.$

b$.$Start with $$350.$ Exchange the dollars for pounds at the current rate of $$1\mathrm{.}60$ per pound. Buy gold with pounds at $20$ per ounce. Convert the gold to dollars at $$35$ per ounce.

c$.$ both of the options

d$.$ none of the options