The figure below shows the demand (D) and supply (S) curves of cocoa in the U.S.Figure 21.4

-Economists typically date the beginning of the gold standard to the period:
A)before 1500.
B)before 1776.
C)between 1880 and 1914.
D)between the two world wars.
E)between 1970 and 2000.

Question

The figure below shows the demand (D) and supply (S) curves of cocoa in the U.S.Figure 21.4
 
-Economists typically date the beginning of the gold standard to the period:
A)before 1500. 
B)before 1776. 
C)between 1880 and 1914. 
D)between the two world wars. 
E)between 1970 and 2000.

Quizplus · Accepted Answer

The gold standard was officially adopted by many countries between 1880 and 1914, making it the most likely period for the beginning of the gold standard. Before this period, the use of gold as a standard for currencies was not as widespread, and after World War I, many countries moved away from the gold standard.

The Figure Below Shows the Demand (D) and Supply (S)