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Why would it be a bad idea to have commodity-backed money (such as the gold standard) in a modern economy? a. Because it would restrict
Why would it be a bad idea to have commodity-backed money (such as the gold standard) in a modern economy?
a. | Because it would restrict the money supply and cause deflation. | |
b. | Because gold and other commodities like it are far more expensive than they used to be. | |
c. | It would not be a bad idea at all. | |
d. | Because it would expand the money supply and cause inflation. |
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