In 1931,the first major country to abandon the gold standard-in order to increase its policy options in face of the Great Depression-was

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Great Britain was the first major country to abandon the gold standard in 1931, as it believed that it needed policy flexibility to cope with the economic challenges of the Great Depression. The United States followed suit in 1933, while France and Germany held on to the gold standard until the advent of World War II.

In 1931,the First Major Country to Abandon the Gold Standard-In