gold standard

Definitions

Banking

  • noun an arrangement that links the value of a currency to the value of a quantity of gold

Economics

  • noun the linking of the value of a currency to the value of a quantity of gold. The pound sterling was linked to the gold standard until 1931.

Health Economics

  • (written as Gold Standard)
    In health economics, one is most likely to encounter this term in its sense of an instrument or procedure that is considered to be a valid measure of exemplary good practice against which the validity or goodness of others can be tested.
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