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10 October, 23:43

Think back to the gold standard period. If the United States suffered a recession, to what degree could it engage in expansionary monetary policy?

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  1. 10 October, 23:55
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    There was no possibe for the US under the gold standard to engage in expansionary monetary policy.

    Explanation:

    In the time the US dollar had a fixed exchange value with the gold, so the quantity of US dollars available were a direct relationship with the availability of reserves of gold that the country would had. The monetary policy was very restricted in that time
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