A gold standard ensures a long-run tendency toward price stability because

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27-06-2022
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A gold standard ensures a long-run tendency toward price stability because

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Baraq Baraq · Answer 1 · 2022-06-28T14:53:56+02:00

A gold standard ensures a long-run tendency toward price stability because the cost of producing an ounce of gold stays relatively constant overtime.

What is a gold standard?

A gold standard is the system, abandoned in the Depression of the 1930s, by which the value of a currency was defined in terms of gold, for which the currency could be exchanged.

Therefore, the correct answer is the cost of producing an ounce of gold stays relatively constant overtime.

learn more about a gold standard: https://brainly.com/question/2222040

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