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Independent Monetary Policy
This is a policy framework where a country's central bank has the autonomy to implement monetary policies, such as setting interest rates, without direct interference from the government, to achieve macroeconomic stability.
International Gold Standard
A monetary system in which countries tie the value of their currencies to a specific amount of gold, facilitating stable exchange rates and international trade.
Balance of Payments
A log detailing all financial interactions between a country's inhabitants and other global entities over a specific timeframe.
International Gold Standard
A monetary system in which the value of a country's currency is directly linked to a specific amount of gold, facilitating stable exchange rates and international trade.
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