What was the main reason for the collapse of the gold standard during major wars?

Fiat Money and Economic Concepts

Interactive Video
•
History, Business, Social Studies
•
6th - 8th Grade
•
Hard

Patricia Brown
FREE Resource
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10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Countries had too much gold.
Countries printed more money than they had gold.
Gold became too cheap.
Gold was no longer valuable.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What event marked the end of the gold standard for the U.S. Dollar?
The Vietnam War
World War II
The Nixon Shock
The Bretton Woods Agreement
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What was one of the main problems with the barter system?
It was too easy to find trading partners.
It required a common currency.
It lacked a fixed value for goods.
It was only used in ancient China.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why did the kingdom of Lydia start using metal coins?
Because they were lighter than cowrie shells.
Because metals were durable and rare.
Because they were easier to produce.
Because they were more colorful.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How does fiat money derive its value?
From its physical appearance.
From the trust people have in the government.
From the amount of gold it represents.
From its historical significance.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the term 'fiat' mean in the context of fiat money?
Inflation-proof
Cryptocurrency
Government decree
Gold-backed
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a major advantage of fiat money?
It never loses value.
It is cost-effective and flexible.
It is universally accepted.
It is backed by gold reserves.
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