During the 19th and early 20th centuries, the United States and its major trading partners were on a gold standard. Which of the following statements about the gold standard is false?

Question

Quizplus · Accepted Answer

The statement that the gold standard stabilized international trade and eliminated financial crises is false. The gold standard did provide some stability to the international monetary system, but it did not eliminate financial crises. In fact, crises like the Panic of 1907 and the Great Depression were exacerbated by the rigidity of the gold standard.

During the 19th and Early 20th Centuries, the United States