The first full-fledged gold standard
A)was not established until 1821 in Great Britain,when notes from the Bank of England were made fully redeemable for gold.
B)was not established until 1780 in the United States,when notes from the Continental Army were made fully redeemable for gold.
C)was established in 986 during the Han dynasty in China.
D)none of the options

Question

Quizplus · Accepted Answer

The first full-fledged gold standard was established in 1821 in Great Britain, when notes from the Bank of England were made fully redeemable for gold. This meant that people could exchange their paper money for gold at a fixed rate, which helped to stabilize the value of currency and promote international trade. While there were earlier examples of currencies being linked to gold, such as in China during the Tang and Song dynasties, these systems were not as fully developed or influential as the British gold standard.

The First Full-Fledged Gold Standard