Question

How did the classical gold standard work in practice?

Answer 1

Countries with a balance of payments surplus would receive gold inflows, while countries in deficit would experience an outflow of gold. ... This was the underlying principle of how the Gold Standard operated, although in practice it was more complex. The adjustment process could be accelerated by central bank operations

Answer 2

The cotton plant is an evergreen shrub that is native to Asia and Africa. It is also grown in the southern United States, Egypt, and countries along the Mediterranean Sea..