what happens to the united states economy when the gold standard was discontinued?
Since this is not my area of expertise, I searched Google under the key words "gold standard economy discontinue" to get these possible sources:
http://www.financialsense.com/editorials/fekete/2005/1121.html
http://encarta.msn.com/encyclopedia_761556418_2/Money.html
http://www.mises.org/freemarket_detail.asp?control=526&sortorder=articledate
http://www.history.com/encyclopedia.do?vendorId=FWNE.fw..mo132700.a#FWNE.fw..mo132700.a
http://www.fee.org/publications/the-freeman/article.asp?aid=3233
I hope this helps. Thanks for asking.
How narural resources effect the economy
Natural resources can have a significant impact on an economy. Here's how they can affect it:
1. Economic growth: Abundant natural resources can boost economic growth by increasing production and exports. For example, countries rich in oil, gas, or mineral deposits can benefit from export revenues, job creation, and investment opportunities.
2. Revenue generation: Natural resources can provide a significant source of revenue for governments through taxes, royalties, and licensing fees. This revenue can be used to fund public services, infrastructure development, and social programs.
3. Trade balance: Countries with valuable natural resources often experience a trade surplus as they export these resources to other nations. This can strengthen the domestic currency and improve the overall balance of trade.
4. Employment opportunities: Natural resource sectors, such as mining, forestry, and agriculture, often provide employment opportunities for local communities. This can alleviate poverty, improve standards of living, and contribute to social stability.
5. Dependency and volatility: Over-reliance on a single natural resource can lead to economic vulnerability. Price fluctuations or depletion of resources can result in economic instability and reliance on international markets. Diversification of the economy becomes crucial to reduce dependence on a single sector.
6. Environmental impact: The extraction and use of natural resources can have adverse environmental effects, such as pollution, habitat destruction, or greenhouse gas emissions. Governments and industries must strike a balance between economic benefits and sustainable resource management.
To understand the specific impact of natural resources on an economy, it is important to analyze factors like resource availability, government policies, market dynamics, and environmental considerations. Economic models, statistical analysis, and research studies are often used to assess and predict the effects of natural resources on the economy.