Question

Considering the benefits and drawbacks of the different types of money as well as the gold standard, do you agree or disagree with the US government’s decision to discontinue the gold standard? Justify your response.

Answer 1

i disagree

Step-by-step explanation:

because if people find gold in mines then all their hard work is gonna go to waste

Answer 2

There are arguments for agreeing or disagreeing with fiat money. This sample answer agrees that fiat money is a good form of money. Regardless of your opinion on this issue, it’s important to justify your response.

The US government’s decision to discontinue the gold standard is a good decision. The government can easily control the supply of fiat money and can increase it in case of an economic downturn or during a war. It’s difficult to change the amount of representative money available because it requires the government to maintain sufficient stocks of the commodity it represents.

Step-by-step explanation:

Plato/Edmentum sample answer.