Which of the following is true of the gold standard used from 1870 to 1914?
A) It was highly volatile global peg system.
B) Banks were free from the need of maintaining gold reserves.
C) It propelled the dollar to the commanding heights of the global economy.
D) Gold was used as the common denominator for all currencies.

Question

Quizplus · Accepted Answer

The gold standard system used from 1870 to 1914 involved using gold as the common denominator for all currencies, meaning that currencies were valued in terms of a specific amount of gold.

Which of the Following Is True of the Gold Standard