Under a gold standard, if a country's exports exceed its imports, its gold stock _____, money supply _____, and output _____.

Question

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Under a gold standard, a country with exports exceeding its imports would see an inflow of gold, increasing its gold stock. This increase in gold stock would allow for an expansion of the money supply. With more money in circulation, economic activity would typically increase, leading to an increase in output.

Under a Gold Standard, If a Country's Exports Exceed Its