Gold standard refers to the:
A)pre-World War I global monetary system that used gold as the basis of international economic exchange.
B)highest rating that is given to an organization for following the international standards of corporate social responsibility.
C)highest rating that is given to a country with regard to the ease with which an organization can set up business in that particular country.
D)best business practices that need to be followed by organizations in the international market.
E)highest standard of transparency that national governments exhibit in their administrative and financial dealings.

Question

Quizplus · Accepted Answer

The gold standard was a monetary system where the value of a country's currency or paper money was directly linked to gold. Countries that adopted the gold standard would fix their currency value to a specific amount of gold, facilitating international trade and investment by providing a fixed currency exchange mechanism. This system was most prominently in use before World War I.

Gold Standard Refers to The