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Economics - Financial Markets 19 Online
OpenStudy (anonymous):

The gold standard is holding enough precious metals in reserve to equal the value of paper money in circulation. -True -False

OpenStudy (anonymous):

True. For the gold standard to occur for all money there must be enough precious metals to back up the value of the paper money. If it is not backed up by precious metals it is normally backed up by law and government and is considered fiat money.

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