monometallism (Meaning)
monometallism (n.)
The legalized use of one metal only, as gold, or silver, in the standard currency of a country, or as a standard of money values. See Bimetallism.
Synonyms & Antonyms of monometallism
No Synonyms and anytonyms found
monometallism Sentence Examples
- The gold standard is an example of a monometallism system where the value of currency is pegged to a fixed quantity of gold.
- Monometallism advocates believe that a single metal is the most stable and reliable basis for a monetary system.
- In a gold monometallism system, the value of all other currencies is expressed in terms of gold.
- Monometallism can lead to fluctuations in the value of currency if the supply of the metal used as the standard changes.
- The historical periods when monometallism was widely adopted, such as the Gold Standard era, were characterized by relative currency stability.
- Some economists argue that monometallism provides better control over inflation compared to fiat currency systems.
- Monometallism can limit a government's ability to respond to economic crises with monetary policy tools.
- The transition from monometallism to fiat currency systems was driven by factors such as the need for greater monetary flexibility.
- In a monometallism system, the central bank controls the money supply by adjusting the price of the metal used as the standard.
- Monometallism has both advantages and disadvantages, and its suitability depends on specific economic and historical contexts.
FAQs About the word monometallism
The legalized use of one metal only, as gold, or silver, in the standard currency of a country, or as a standard of money values. See Bimetallism.
No synonyms found.
No antonyms found.
The gold standard is an example of a monometallism system where the value of currency is pegged to a fixed quantity of gold.
Monometallism advocates believe that a single metal is the most stable and reliable basis for a monetary system.
In a gold monometallism system, the value of all other currencies is expressed in terms of gold.
Monometallism can lead to fluctuations in the value of currency if the supply of the metal used as the standard changes.
