One disadvantage of the gold standard was that no nation had control of its domestic monetary policies.

Question

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Under the gold standard, the value of a currency was tied to a fixed quantity of gold. This meant that a country's money supply was limited by its gold reserves, and it couldn't print more money or implement other monetary policies that would increase the supply of money. This limited the ability of governments to respond to economic downturns and other crises with policy measures such as lowering interest rates or increasing government spending. Thus, no nation had complete control over its domestic monetary policies under the gold standard.

One Disadvantage of the Gold Standard Was That No Nation