gold-standard

Cultural Dictionary

gold standard definition


A system in which a nation's currency has a value measured in gold and can be exchanged for gold. Most nations, including the United States, went off the gold standard in the 1930s.

The American Heritage® New Dictionary of Cultural Literacy, Third Edition
Copyright © 2005 by Houghton Mifflin Company.
Published by Houghton Mifflin Company. All rights reserved.
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