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

Respuesta :

Answer:

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