Under the gold standard:
A) the United States set the price of gold at $35 per ounce, and other countries then established their exchange rates against the U.S. dollar .
B) Great Britain and the United States set the price of gold at $35 per ounce and £7 per ounce, and then other countries established their exchange rates against either the British pound or the U.S. dollar.
C) all countries pegged the values of their currencies to gold.
D) only gold was used to settle international transactions.

Question

Quizplus · Accepted Answer

Under the gold standard, all countries pegged the values of their currencies to a specific amount of gold, which facilitated stable exchange rates and international trade.

Under the Gold Standard