It Is Said That the Gold-System Was Programmed to Collapse

question 16

Multiple Choice

It is said that the gold-system was programmed to collapse in the long run.To satisfy the growing need for reserves,the United States had to run balance-of-payments deficits continuously.Yet,if the United States ran perennial balance-of-payments deficits,if would eventually impair the public confidence in the dollar.This dilemma I known as the

• A)Triffin paradox
• B)Triffin dilemma
• C)Mundell paradox
• D)Mundell dilemma

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