A gold standard is:

Name: A gold standard is:
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A gold standard is:

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A gold standard is a system where currency (e.g., the dollar) was defined as equivalent in value to a certain amount of gold. Under this system, a country's currency could be exchanged for a fixed amount of gold, and vice versa. This system was used in many countries until the mid-20th century, when it was largely abandoned in favor of fiat money systems where currencies are not backed by gold or other physical assets.

A Gold Standard Is