In economics, Gold Standard is the monetary system where in all form of legal tender may be converted on demand, into fixed quantities of gold. In 1816, the first country to go on the gold standard was:

Related MCQs

• Bimetallism is the monetary policy based on the use of two metals, as legal tender without limit and equalized by law in a fixed ratio. Which are these two metals?
• Of all methods of payment, the recognized legal tender is:-
• Legal Tender Money is -
• "Legal Tender Money" refers to :
• The type of currency issued by government as legal tender the value of which is based solely on decree or law rather than actual coin or precious metal reserves is termed as:
• he annual record for all the monetary transactions of a country with other countries of the world is known as -
• The stocks of gold and foreign currencies held by a country to finance any calls that may be made from its creditors for the debt settlement are known as
• The terms "Micro Economics" and "Macro Economics" were coined by -
• The demand of a commodity is a direct demand but the demand of a factor of production is called a -
• The demand for two or more commodities or factor of production that are used together so that a change in demand for one will be reflected in a change in demand for other e.g., cloth and thread is called