The gold standard likely facilitated the Great Depression because Group of answer choices the Fed kept interest rates high to maintain the gold standard. this simply isn't true. Britain abandoned it in favor of a flexible exchange rate system. foreign nations released their gold to US reserves.

The gold standard likely facilitated the Great Depression because Group of answer choices the Fed kept interest rates high to maintain the gold standard. this simply isn't true. Britain abandoned it in favor of a flexible exchange rate system. foreign nations released their gold to US reserves.

MACROECONOMICS

14th Edition

ISBN:9781337794985

Author:Baumol

Publisher:Baumol

Chapter19: The International Monetary System: Order Or Disorder

Section: Chapter Questions

Problem 1DQ

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Question

The gold standard likely facilitated the Great Depression because

Group of answer choices

the Fed kept interest rates high to maintain the gold standard.

this simply isn't true.

Britain abandoned it in favor of a flexible exchange rate system.

foreign nations released their gold to US reserves.

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The collapse of gold standard has a significant contribution in the occurrence of the Great Depression.

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