Under a gold standard, if a country's exports exceeded its imports
A) its gold stocks were reduced.
B) prices and wages in the country fell.
C) its expenditures increased, but its output fell.
D) gold flowed into the country.

Question

Quizplus · Accepted Answer

Under the gold standard, when a country's exports exceeded its imports, it would receive payments in gold from the importing countries. This would result in gold flowing into the country, increasing its gold stocks.

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