Briefly Review the Appeal of the Gold Standard, and Comment

question 17

Essay

Briefly review the appeal of the gold standard, and comment on why it is not presently in use.
A.D.
The downside of the gold standard and why it is no longer officially in use is gold's need for security, its lack of transportability, its holding costs, and the fact that it doesn't earn interest. Also, a huge global trading system needs something more flexible than gold.

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Definitions:

Group Adjusts

The process by which a group changes its behavior, strategies, or structures in response to external or internal stimuli to maintain or improve effectiveness.

Synomorphy

The correspondence of form or structure resulting from a common growth pattern or evolutionary process.

High Degree

This term refers to a level of intensity, quantity, quality, or educational achievement that is substantially above average or normal.

Five-Zone Model

A spatial arrangement concept that divides an area or space into five distinct zones, often used in urban planning or environmental psychology.