Question

question 4 of 11
what is the gold standard?
select an answer from the options below
a a system where paper money is backed by silver
b a system where a countrys currency is tied to a curre
c a system where money has no intrinsic value
d a system where fiat currency is used

Explanation:

The gold standard is a monetary system where a nation's currency is directly linked to a fixed quantity of gold, meaning the currency's value is tied to gold. Option A is incorrect as it mentions silver, not gold. Options C and D describe fiat currency systems, which have no intrinsic value and are not tied to a commodity like gold.

Answer:

B. A system where a country's currency is tied to a certain amount of gold