| gold standard |
a monetary standard under which the basic unit of currency is defined by a stated quantity of gold a paragon of excellence; "academic education is the gold standard against which other educational activity is pejoratively judged"
출처: wordnet.princeton.edu/perl/webwn
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| gold standard |
A historical system of fixed exchange rates in which nations defined their currency in terms of gold. (See page(s) 419)
출처: highered.mcgraw-hill.com/sites/007091656x/student_...
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| gold standard |
A commodity money standard in which the commodity is gold. The gold standard is the sound monetary system, national or international, under which: (1) A monetary unit is defined as a certain fixed weight and fineness of gold; (2) Gold coins are used in business transactions and are part of the cash holdings of individuals; (3) Only standard gold coins have unlimited legal tender quality; (4) The national monetary authority is obliged to exchange without restriction gold against monetary ...
출처: https://www.mises.org/easier/G.asp
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| gold standard |
A monetary system in which both the value of a unit of the currency and the quantity of it in circulation are specified in terms of gold. If two currencies are both on the gold standard, then the exchange rate between them is approximately determined by their two prices in terms of gold.
출처: www-personal.umich.edu/~alandear/glossary/g.html
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| gold standard |
The gold-standard system was largely abandoned during WWI. Up to that time many countries kept gold reserves large enough to meet all likely demands on their currencies by exports and well as backings on the issuing of bank notes. The high cost of WWI as well as the 1930s Depression forced countries to abandon the gold standard since their reserves weren't enough to keep in step with demands. Imbalance in payments between countries is financed by transfers of gold or foreign exchange.
출처: www.embassy.org.nz/encycl/g3encyc.htm
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