14. Which of the following is false? (LO3)

a) The gold standard will work only when the gold supply increases as quickly as the world’s need for money.

b) The gold standard will work only if all nations agree to devaluate their currencies simultaneously.

c) The gold standard will work only if participating nations are willing to accept periodic infl ation.

d) The gold standard will work only if participating nations are willing to accept periodic unemployment.