Answered step by step
Verified Expert Solution
Question
1 Approved Answer
One disadvantage of the pre-1914 gold standard was that Multiple Choice internal prices of economies being rigid, there arose uncertainty in the international trade. central
One disadvantage of the pre-1914 gold standard was that Multiple Choice internal prices of economies being rigid, there arose uncertainty in the international trade. central banks often changed their announced gold prices to achieve competitive devaluations. slow expansion of the world's gold stock led to too much inflation in the prices of products other than gold. pressures to adjust were placed mainly on countries in payments deficit situations, and not on countries in surplus
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started