Under the gold standard, each country had little control over its own monetary policies.

Question

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Under the gold standard, the value of a country's currency was tied to the value of gold, and therefore each country had to maintain a fixed exchange rate with other countries. This meant that a country could not simply print more money to stimulate its economy or devalue its currency to make its exports cheaper. As a result, countries had limited control over their own monetary policies.

Under the Gold Standard, Each Country Had Little Control Over