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attashe74
29 days ago
14

In the late 1800s, why did industrialists support the gold standard?

History
2 answers:
BigorU [1.6K]29 days ago
5 0

The right choice is Option B) The gold standard ensured that gold prices remained constant, which led to lower wages and prices overall.


During the early phase of the Industrial Revolution, rapid changes were occurring. New employment opportunities emerged, while goods began to circulate faster and global demand increased.

In such a scenario, industrialists preferred to avoid a 'fiat' currency system where daily price fluctuations affected the market rates for their products.

This was particularly detrimental in international trade.

By adhering to the Gold Standard, prices remained consistent, allowing them to better control their business operations and ensuring lower wages while facilitating planning and growth.

mr_godi [1.6K]29 days ago
3 0
Greetings!!!

your response: <span>The gold standard maintained a stable gold price, which helped to keep both wages and general prices low.

I hope this assists you somehow!
Have a great day;3 and achieve an A on your test:D</span>
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