According to the "Rules of the Game" of the Gold

question 31

Multiple Choice

According to the "rules of the game" of the gold standard era,a country's central bank agreed to react to international gold flows so as to:

• A) Officially devalue a currency during eras of payments surpluses
• B) Officially revalue a currency during eras of payments deficits
• C) Offset the automatic-adjustment mechanism (e.g.,prices)
• D) Reinforce the automatic-adjustment mechanism