When the United States was under the gold standard, recessions were ________ and long-term inflation was ________.

Name: When the United States was under the gold standard, recessions were ________ and long-term inflation was ________.
Brand: Quizplus
Rating: 4.8 (62 reviews)

Question

Quizplus · Accepted Answer

Under the gold standard, the U.S. experienced more frequent recessions due to the rigidity in the money supply, and long-term inflation was virtually nonexistent because the value of currency was tied to gold, limiting the government's ability to inflate the currency.

When the United States Was Under the Gold Standard, Recessions