The Gold Standard
Order ID 53563633773 Type Essay Writer Level Masters Style APA Sources/References 4 Perfect Number of Pages to Order 5-10 Pages
The Gold Standard
The Gold Standard is a monetary system in which the value of a country’s currency is tied to a specific amount of gold. Under this system, a country’s central bank would guarantee to convert its currency into a fixed amount of gold, and individuals could exchange their currency for gold at this fixed rate. The Gold Standard was used in many countries from the late 19th century until the mid-20th century.
The idea behind the Gold Standard is that it provides a stable and predictable monetary system. By tying the value of currency to a fixed amount of gold, the supply of money would be limited to the amount of gold that a country had in its reserves. This would help prevent inflation and promote economic stability. Furthermore, because gold was a widely accepted and valued commodity, it provided a common standard for international trade.
The Gold Standard was first adopted by the United Kingdom in 1821 and was gradually adopted by many other countries throughout the 19th century. In the late 19th and early 20th centuries, the Gold Standard became the dominant international monetary system, with many countries pegging their currencies to gold.
During the 1920s, the Gold Standard was seen as a symbol of economic stability and prosperity. However, the system came under increasing pressure during the Great Depression of the 1930s. Many countries, including the United States, abandoned the Gold Standard in order to pursue expansionary monetary policies to stimulate their economies. The system was further weakened by the outbreak of World War II, as countries turned to printing money to finance their war efforts.
After World War II, the Bretton Woods Agreement established a new international monetary system, in which the US dollar was tied to gold at a fixed rate, and other countries’ currencies were then pegged to the US dollar. This system, known as the Bretton Woods system, lasted until 1971, when the US abandoned the gold standard completely.
Today, no major country uses the Gold Standard as their monetary system. Instead, most countries operate on a system of fiat money, in which the value of the currency is not tied to any physical commodity but is determined by the market. The modern monetary system allows central banks to adjust the supply of money and interest rates in order to manage inflation and promote economic growth.
In conclusion, the Gold Standard was a monetary system in which the value of a country’s currency was tied to a specific amount of gold. The system was widely used in many countries from the late 19th century until the mid-20th century and was seen as a symbol of economic stability and prosperity. However, the system came under increasing pressure during the Great Depression and was further weakened by World War II. Today, no major country uses the Gold Standard, and most operate on a system of fiat money.
The Gold Standard
QUALITY OF RESPONSE NO RESPONSE POOR / UNSATISFACTORY SATISFACTORY GOOD EXCELLENT Content (worth a maximum of 50% of the total points) Zero points: Student failed to submit the final paper. 20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. 30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking. 40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete. 50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing. Use of Sources (worth a maximum of 20% of the total points). Zero points: Student failed to include citations and/or references. Or the student failed to submit a final paper. 5 out 20 points: Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. 10 out 20 points: References to scholarly sources are occasionally given; many statements seem unsubstantiated. Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. 15 out 20 points: Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented. APA 6th Edition is used with only a few minor errors. There are minor errors in reference and/or citations. And/or there is some use of questionable sources. 20 points: Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented. APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. Grammar (worth maximum of 20% of total points) Zero points: Student failed to submit the final paper. 5 points out of 20: The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors 10 points out 20: The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors 15 points out of 20: The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. 20 points: The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. Structure of the Paper (worth 10% of total points) Zero points: Student failed to submit the final paper. 3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. 5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements. The student also significantly writes too large or too short of and paper 7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. 10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper.
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