Suppose a nation fixes the exchange rate of its currency relative to a specific amount of Jgold. This system is an example of a

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The exchange rate system described in the question is a commodity standard system because the currency is fixed relative to a specific amount of a commodity (Jgold). A managed float system involves occasional intervention by the government or central bank to influence the exchange rate, while a free-floating exchange rate system allows the exchange rate to be determined by market forces without any fixed relationship to a commodity. A fiat standard system uses a currency that is not backed by a commodity but is instead based on the government's guarantee of its value.

Suppose a Nation Fixes the Exchange Rate of Its Currency