Under the gold standard, a country in balance-of-trade equilibrium earns income from exports that is equal to the money its residents pay for imports.

Name: Under the gold standard, a country in balance-of-trade equilibrium earns income from exports that is equal to the money its residents pay for imports.
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Under the gold standard, a balance-of-trade equilibrium implies that the value of a country's exports equals the value of its imports, maintaining a stable exchange rate and gold reserves.

Under the Gold Standard, a Country in Balance-Of-Trade Equilibrium Earns