Why Did Canada Abandon the Gold Standard in the 1930s

question 66

Multiple Choice

Why did Canada abandon the gold standard in the 1930s?

• A)The government wanted to rapidly expand the money supply in response to the Great Depression.
• B)The government wanted to move away from a floating exchange rate system to a fixed exchange rate system.
• C)The Treasury Department in the United States found it was cheaper to print paper money instead of gold coins.
• D)New sources of gold were discovered, so the price of gold plummeted, dramatically reducing the value of the dollar.
• E)Other countries stopped accepting Canadian money as payment for their goods and services.