There are some questions. Need answers in 30 min.
1. (T/F) Under the gold standard, countries that imported more than they exported had to pay for this with an outflow of gold to other countries.
2. (T/F) Currency markets influence exchange rates under a fixed exchange rate system.
3. (T/F) Under the gold standard, a trade surplus will lead to an inflow of gold, which increases the money supply.
4. (T/F) Though fixed exchange rate systems were the norm for most of the 20th century, most of the world economy now is under flexible exchange rate systems, in which exchange rates are set in international currency markets.