The figure below shows the demand (D) and supply (S) curves of cocoa in the U.S.Figure 21.4

-Which of the following was the reserve currency under the gold exchange standard?
A)U.S. dollar
B)Euro
C)Great Britain pound
D)Australian dollar
E)Deutsche mark

Question

The figure below shows the demand (D) and supply (S) curves of cocoa in the U.S.Figure 21.4
 
-Which of the following was the reserve currency under the gold exchange standard?
A)U.S. dollar 
B)Euro 
C)Great Britain pound 
D)Australian dollar 
E)Deutsche mark

Quizplus · Accepted Answer

Under the gold exchange standard, the U.S. dollar was the primary reserve currency, as it was convertible to gold and widely used in international trade.

The Figure Below Shows the Demand (D) and Supply (S)