Under the Gold Standard, If a Country Imported More Than

question 139

Multiple Choice

Under the gold standard, if a country imported more than it exported:

• A) the deficit had to be covered with its inventory of gold.
• B) the deficit was balanced with a surplus in its capital account.
• C) the deficit was balanced by increasing the money supply.
• D) the trade deficit would have to be balanced with a fiscal budget surplus.

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