All national governments agreed to abide by the "rules of the game" under the gold standard. The defense of a fixed exchange rate was required.
A monetary system known as the "gold standard" links a currency's value directly to gold. As a result, the money is guaranteed by the government and can be exchanged for a specific amount of gold. A fixed exchange rate helps to ensure the smooth flow of money from one country to another.
Gold standard means, The amount of gold that a nation's central bank or treasury kept constituted the upper limit on its money supply. Any change in its gold holdings had to be accompanied by an equal adjustment in the number of outstanding local currency units.
According to the "rules of the game," nations that lost gold were required to raise interest rates and reduce their money supply, while nations that gained gold were required to lower interest rates.
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Answer:
government
Explanation:
the power elite are the key people in the three major institutions of modern society: 1) Economy; 2) Government; and 3) Military. The bureaucracies of state, corporations, and military have become enlarged and centralized and are a means of power never before equaled in human history. These hierarchies of power are the key to understanding modern industrial societies
The Nile brought the ancient Egyptians and Nubians a constant source of water, allowing them to fish, farm, trade and build communities along its banks.
Answer:
The powers of the Federal government
Explanation:
