The system under which a country's currency is exchangeable for a fixed weight of gold on demand at central bank is called ?
Correct answer: A. God standard system
- A. God standard system
- B. Gold based system
- C. Bullion standard system
- D. None of the above
Explanation
Under the gold standard, currency is convertible into a specified quantity of gold at a fixed rate on demand. Option a says “God standard,” but this is evidently a typographical error for “Gold standard.”
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