UK Response to Great Depression Flashcards

1
Q

What was the UK’s bad response?

A

contractionary fiscal policy - due to belief in balanced budgets

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

What was the UK’s good response?

A

Left Gold Standard in 1931 (2 years before US)
could then engage in expansionary monetary policy

How well did you know this?
1
Not at all
2
3
4
5
Perfectly