Why did both major parties consider the gold standard important

1 answer:

3 0

Gold standard is when a country associates the currency of the nation to the reserve of the gold. For example, a country can give a currency and get gold respectively for that value of the currency.

One of the advantages of gold is that it drops inflation because too much money pursuits too few goods and the purchasing power of the people increase and there will be no shortage in the nation’s fiscal budget.

One of the major disadvantages is its feasibility and liquidity unlike US Dollars. During Great Depression US was unable to redeem all its gold reserve to dollars due to the people’ purchasing power went drastically low.

You might be interested in

As a result of the cuts President Ford made to government spending, unemployment

ziro4ka [17]

It seems that you have missed the necessary options for this question, but anyway, the answer would be INCREASED. <span>As a result of the cuts President Ford made to government spending, unemployment INCREASED. President Gerald Ford was the 38th President of the United States. Hope this answers your question. Have a great day!</span>

3 0

3 years ago

Read 2 more answers

Rome faced constant attack after the Pax Romana because its army

Bumek [7]

It was because the <span>army was becoming less loyal to the emperor.</span>

8 0

2 years ago

Read 3 more answers

What side was andrew jackson on union or confederate?

Gnoma [55]

Neither, but if he was alive during the Civil War, he would have sided with the South.

7 0

3 years ago

All seven of the southern countries of South America were controlled by:

Shalnov [3]

They all were controlled by Spain

6 0

2 years ago

Was legal in Mississippi, Georgia, and Alabama in 1825 20 POINTS

frozen [14]

Answer:The Treaty of Indian Springs, also known as the Second Treaty of Indian Springs and the Treaty ... Monument, to Georgia and Alabama, and accepted relocation west of the Mississippi River to an equivalent parcel of land along the Arkansas River. ... Both his sons-in-law, Samuel and Benjamin Hawkins, Jr. were slated for ...

Explanation:

6 0

2 years ago