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Answer:
During the period of the classical gold standard, 1875-1914 there were Significant technological advancements , Global economic depressions and Stable international currency exchange rates. The correct option is a , b and c.
Explanation:
During the period of the classical gold standard, 1875-1914, there were three significant developments:
a)Significant technological advancements: The late 19th and early 20th centuries witnessed remarkable technological progress. This period saw advancements in transportation, communication, and manufacturing, which had a profound impact on economic development. For example, the invention of the telephone, the expansion of railroads, and the introduction of assembly line production methods all contributed to increased productivity and global trade.
b)Global economic depressions: While the gold standard aimed to promote stability, it did not prevent economic downturns. During this period, there were several global economic depressions, including the Long Depression of the 1870s and the Great Depression of the 1930s. These depressions were caused by various factors such as financial crises, speculative bubbles, and agricultural problems.
c)Stable international currency exchange rates: One of the main features of the classical gold standard was the establishment of fixed exchange rates between participating countries. Under this system, the value of a country's currency was tied to a specific amount of gold, ensuring stability and predictability in international trade.
It is important to note that political revolutions, option (d), were not a direct result of the classical gold standard. Political revolutions can occur for various reasons, such as social inequalities, political instability, or dissatisfaction with government policies. While the gold standard may have influenced economic conditions, it was not the primary cause of political revolutions during this period.
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