Why did the United States abandon the gold standard in the 1930s?
A) The government wanted to rapidly expand the money supply in response to the Great Depression.
B) The government wanted to move away from a floating exchange rate system to a fixed exchange rate system.
C) The Treasury Department in the United States found it was cheaper to print paper money instead of gold coins.
D) New sources of gold were discovered,so the price of gold plummeted,dramatically reducing the value of the dollar.
Correct Answer:
Verified
Q2: If currencies around the world are based
Q3: When the value of a currency is
Q4: The gold standard is an example of
A)a
Q5: China's exchange rate system from 1994 through
Q6: The current exchange rate system in the
Q8: Suppose an economy's exchange rate system is
Q9: The Bretton Woods exchange rate system was
Q10: The exchange rate system agreed to in
Q11: If a country's currency is determined only
Q12: When the value of a currency is
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents