After Britain Returned to the Gold Standard in the 1920s,the

Multiple Choice

After Britain returned to the Gold Standard in the 1920s,the British pound was

A) undervalued, contributing to a long period of inflation.
B) undervalued, contributing to a long period of recession.
C) overvalued, contributing to a long period of inflation.
D) overvalued, contributing to a long period of recession.
E) value about right, leading to a long period healthy growth with almost no inflation.