A country that is on a gold standard primarily uses:
A) commodity money.
B) fiat money.
C) credit money.
D) the barter system.

Name: A country that is on a gold standard primarily uses: A) commodity money. B) fiat money. C) credit money. D) the barter system.
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Question

Quizplus · Accepted Answer

In a country that is on a gold standard, the paper currency in circulation is directly convertible into a fixed amount of gold. Therefore, the currency is backed by a commodity - gold - which is commodity money.

A Country That Is on a Gold Standard Primarily Uses