After Britain Returned to the Gold Standard in the 1920s,the

question 24

Multiple Choice

After Britain returned to the Gold Standard in the 1920s,the British pound was

• A)undervalued, contributing to a long period of inflation.
• B)undervalued, contributing to a long period of recession.
• C)overvalued, contributing to a long period of inflation.
• D)overvalued, contributing to a long period of recession.
• E) value about right, leading to a long period healthy growth with almost no inflation.