In this article we will discuss about:- 1. Features of Gold Standard 2. Functions of Gold Standard 3. Automatic Working 4. Rules 5. Merits 6. Demerits 7. Breakdown. Features of Gold Standard: The basic features of the gold standard are: (i) The monetary unit is defined in terms of certain weight and fineness of gold. (ii) All gold coins are [...]
In this article we will discuss about the two types of monetary standards: A. Metallic Standard B. Paper Standard. A. Metallic Standard: Under metallic standard, the monetary unit is determined in terms of some metal like gold, silver, etc. Standard coins are made out of the metal. Standard coins are full-bodied legal tender and their value is equal to their [...]
Historically there have been different forms of gold standard. They are – 1. Gold Coin Standard 2. Gold Bullion Standard 3. Gold Exchange Standard 4. Gold Reserve Standard 5. Gold Parity Standard. Type # 1. Gold Coin Standard: Gold coin standard or gold currency standard or gold species standard is the oldest form of gold standard. It is also known [...]