select the correct answer. which of the following is a definition of the gold standard? a. indicator of the…

select the correct answer. which of the following is a definition of the gold standard? a. indicator of the highest credit rating b. variable currency based on the price of gold c. weight of gold bullion d. purity of gold bullion e. currency based on the price of gold

select the correct answer. which of the following is a definition of the gold standard? a. indicator of the highest credit rating b. variable currency based on the price of gold c. weight of gold bullion d. purity of gold bullion e. currency based on the price of gold

Answer

Brief Explanations:

The gold - standard is a monetary system where a country's currency or paper money has a value directly linked to gold. It is a currency based on the price of gold. Option A refers to credit rating, not the gold - standard. Option B mentions a variable currency which is not the essence of the gold - standard. Options C and D focus on the physical aspects of gold bullion (weight and purity) rather than the monetary system.

Answer:

E. currency based on the price of gold