Under the Gold Standard

question 208

Multiple Choice

Under the gold standard,

• A)each nation had discretion over its monetary policy.
• B)trade-deficit nations had less control over their money supply than trade-surplus nations.
• C)trade-surplus nations had less control over their money supply than trade-deficit nations.
• D)no nation had control over its domestic monetary policy.

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Definitions:

Local Currency

Refers to the legal tender or official currency that is used within a country's borders.

Ending Inventory

The total value of goods available for sale at the end of an accounting period.