Would wage flexibility have allowed the balance of payments to be corrected under the gold standard without

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Would wage flexibility have allowed the balance of payments to be corrected under the gold standard without leading to a depression?

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Economics

ISBN: 978-1292187853

10th edition

Authors: John Sloman, Jon Guest, Dean Garratt

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Question Posted: Apr 03, 2019 09:14 AM

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Would wage flexibility have allowed the balance of payments to be corrected under the gold standard without

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Yes provided that there was also downward price flexibility Real wages and prices would ...View the full answer

Economics

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