1. True or False. (Explain your answers.) a. Countries that devalued or abandoned the gold standard were hurt less by the Great Depression than were countries that adhered to it. b. Suppose that US imposes a 10 percent tariff on all imported foreign goods. This must improve the US Trade Balance. c. Suppose that there is a surge in investment. This would cause a larger increase in income if the exchange rate were fixed than if it were flexible