One problem associated with the gold standard was that

Question

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Under the gold standard, nations had to back their currency with a certain amount of gold, which meant that they had to give up control of their money supply to maintain the fixed exchange rate. This lack of control over the money supply became a problem during economic downturns when governments needed to lower interest rates and increase the money supply to stimulate economic growth, but were unable to do so due to the gold standard.

One Problem Associated with the Gold Standard Was That