Which of the following is true of the gold standard used from 1870 to 1914? It propelled the dollar to the commanding heights of the global economy. Banks were free from the need of maintaining gold reserves. Gold was used as the common denominator for all currencies. It was highly volatile global peg system.

Gold was used as the common denominator for all currencies.

Explanation:

The classical gold standard started in the 1870s and lasted until World War I. At that time, money was basically either metal coins (gold, silver or copper) or bank notes backed up by metal inventories.

Later, during the early 1940s, the US government decided to foster a new gold standard through the Bretton Woods system that was in place between 1944 up to 1973.

answer; i believe that the correct answer is (strain);

hi,

henry is an economist and wants to understand the relationship between inflation and consumer spending habits. for his research, he needs the consumer price index for 2014 and the inflation rate. based on the prices of goods given, what will he find to be the cpi and inflation rate for 2014? assume that a consumer’s basket for three consecutive years consists of the following:

you dont privide answer choices.

answer - 15% of a inflatation rate is 15% less in cpi