Author Question: The gold standard ended in the 1970s because the gold supplies failed to keep pace with the increase ... (Read 158 times)

swpotter12 · **on:** Jun 30, 2018

The gold standard ended in the 1970s because the gold supplies failed to keep pace with the increase in money supplies required for industrialization and rapid economic growth witnessed in this era.
a. True
b. False
Indicate whether the statement is true or false

Question 2

Suppose that the exchange rate between British pounds and U.S. dollars is originally 2.50 per pound. If it then changes to 3 for 1 pound, exports of U.S. goods to Britain will tend to:
a. rise.
b. fall.
c. stay the same.
d. change in an indeterminate direction.