Chap10 The International Monetary System(7)

Mechanics Of The Gold StandardPegging currencies to gold and guaranteeing convertibility is known as the gold standard让货币随黄金

一起浮动以保证兑换被

称作为金本位制In the 1880s, most of the world’s trading nations followed the gold standard Under the gold standard one U.S. dollar was defined as equivalent to 23.22 grains of "fine (pure) gold在金本位制

下是1美元等同于23.22谷的黄金

The amount of a currency needed to purchase one ounce of gold was called the gold par value山东经济学院·国际贸易学院 School of International Trade, Shandong Economic University 1-7

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