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Questions and Answers
¿Por qué se consideraba peligroso y moralmente incorrecto cambiar las tasas de cambio después de la Primera Guerra Mundial?
¿Por qué se consideraba peligroso y poco ético cambiar las tasas de cambio después de la Primera Guerra Mundial?
¿Qué se reconoció al adoptar diferentes tasas de cambio después de la Primera Guerra Mundial?
¿Qué se logró al admitir monedas convertibles como base monetaria?
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¿Qué se logró al admitir monedas convertibles como base monetaria en el sistema del patrón oro de las tasas de cambio?
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Study Notes
- After World War I, restoring the monetary system in Europe was a difficult task due to the different levels of inflation in different countries.
- The adoption of different exchange rates from pre-war times implied devaluations and the recognition of inflexibility in prices and wages.
- The gold standard was considered a successful system of international payments during the belle époque.
- Changing exchange rates was seen as dangerous and immoral, as it would undermine the public's trust in the inmutability of the value of money.
- The fear of unfair competition between countries was also a concern.
- A series of monetary conferences were held after the war to find a solution to these issues.
- The Genoa Conference in 1922 is considered the one that established the gold standard of exchange rates.
- A country practices the gold standard of exchange rates when it admits not only gold but also convertible currencies as the monetary base.
- Certain countries in the belle époque treated the sterling pound as gold in the computation of their monetary base.
- Admitting convertible currencies as the monetary base avoided the hassle of sending them for conversion to England and transporting gold from England to the country in question.
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Description
Test your knowledge on the restoration of the monetary system in Europe after World War I with our quiz. Discover the challenges of adopting different exchange rates and the fear of unfair competition between countries. Learn about the successful gold standard system of international payments during the belle époque and the series of monetary conferences that were held to find a solution to these issues. Find out which conference established the gold standard of exchange rates and how certain countries treated the sterling pound as gold in the computation of their monetary base. Take
