The gold standard is used as the basis for a nation's money supply.

Name: The gold standard is used as the basis for a nation's money supply.
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The gold standard, where a country's currency value is directly linked to gold, is no longer used by any nation as the basis for its money supply. Most countries now use fiat money, which is backed by the government's declaration that it has value, rather than a physical commodity like gold.

The Gold Standard Is Used as the Basis for a Nation's