in the late 1800s, why did industrialists support the gold standard?\nthe gold standard kept the price of…
in the late 1800s, why did industrialists support the gold standard?\nthe gold standard kept the price of gold flexible, which made the value of currency go up and down.\nthe gold standard kept the price of gold fixed, which kept both prices and wages down.\nthe gold standard kept the price of gold fixed, which caused wages to steadily increase.\nthe gold standard kept the price of gold flexible, which also made the price of silver flexible.
Answer
Answer:
The gold standard kept the price of gold fixed, which kept both prices and wages down.
Brief Explanations:
In the late 1800s, industrialists favored the gold - standard as it fixed the price of gold. A fixed - gold price helped in keeping overall prices and wages low, which was beneficial for their profit - making as production costs were controlled.