The gold standard is an example of which type of a monetary system?

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Quizplus · Accepted Answer

The gold standard is a type of commodity money system, where the currency is backed by a commodity, in this case, gold. Fiat money system is one where the currency is not backed by any physical commodity and its value is based on the government's decision to accept it as a means of payment. A barter system is an exchange of goods and services without the use of money. The gold standard is not an example of a barter system or a fiat money system.

The Gold Standard Is an Example of Which Type of a Monetary