Under the Gold Standard

Multiple Choice

Under the gold standard:

A) countries specified a fixed price at which they were willing to trade their currencies for an ounce of gold.
B) countries adopted a flexible price at which they were willing to trade their currencies for an ounce of gold.
C) all countries traded gold at the market price and traded their currencies at that price.
D) countries allowed their currencies to float against the price of gold.
E) all countries fixed their currencies at the same rate.