Question

What was the result of the United States of America abandoning the Gold Standard?

A.People began hoarding dollar bills so the value would decline.
B.The U.S. Dollar was no longer backed by gold.
C.Businesses preferred to be paid with gold thus dollars were less valued.
D.Americans did not want to use fiat currency so the value declined.

Answer 1

Answer: B

Explanation: The U.S. dollar was no longer backed by gold.