One disadvantage of the pre-1914 gold standard was that
A. pressures to adjust were placed mainly on countries in payments deficit situations, and not on countries in surplus.
B. slow expansion of the world's gold stock led to too much inflation in the prices of products other than gold.
C. internal prices of economies being rigid, there arose uncertainty in the international trade.
D. central banks often changed their announced gold prices to achieve competitive devaluations.
Answer: A
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a. natural selection b. moral hazard c. hidden actions d. open-access resources e. hidden characteristics
Which of the following statements contradicts the evidence shown in the graph shown? 
A. Income is more equally distributed in Sweden than it is in Taiwan. B. Income is more equally distributed in Taiwan than it is in the United States. C. Income is more equally distributed in Sweden than it is in Brazil. D. Income is more equally distributed in the United States than it is in Brazil.
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A. Subtracting depreciation from GDP. B. Adding appreciation to GDP. C. Adding consumption, investment, government expenditures, and net exports. D. Subtracting consumption from GDP.
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