Question: TRUE/FALSE. Provide a brief explanation to justify your answer. 1. The rules of the game under the gold standard can best be described as selling

TRUE/FALSE. Provide a brief explanation to justify your answer. 1. The rules of the game under the gold standard can best be described as selling domestic assets in a deficit and buying assets in a surplus. 2. Home output falls more under a floating rate than under a fixed rate in response to an adverse temporary export demand shock. [Diagram required]

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