Under the Gold Standard

question 94

Multiple Choice

Under the gold standard:

• A) countries specified a fixed price at which they were willing to trade their currencies for an ounce of gold.
• B) countries adopted a flexible price at which they were willing to trade their currencies for an ounce of gold.
• C) all countries traded gold at the market price and traded their currencies at that price.
• D) countries allowed their currencies to float against the price of gold.
• E) all countries fixed their currencies at the same rate.

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