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Why Did Britain's Abandonment of the Gold Standard Not Aid

Question 40

Multiple Choice

Why did Britain's abandonment of the gold standard not aid its recovery?


A) Its gold reserves were so large from its colonial possessions that it undermined the efforts to create a free-floating currency.
B) After industrialization, gold played a small role in the world economy.
C) Many other wealthy countries abandoned the gold standard after Britain, blunting any advantage for Britain.
D) The lack of bank regulations and currency controls resulted in a currency that already was devalued.

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