Why Did Britain's Abandonment of the Gold Standard Not Aid

question 51

Multiple Choice

Why did Britain's abandonment of the gold standard not aid its recovery?

• A)Its gold reserves were so large from its colonial possessions that it undermined the efforts to create a free-floating currency.
• B)After industrialization, gold played a small role in the world economy.
• C)Many other wealthy countries abandoned the gold standard after Britain, blunting any advantage for Britain.
• D)The lack of bank regulations and currency controls resulted in a currency that already was devalued.

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