gold standard meaning

A gold standard in clinical research and testing refers to a methodology or benchmark that has been designated as the most accurate for a specified test or process. Gold was used as a base, because it was durable, rare, and almost universally valued. Gold-standard enterprise customer support. Gold standard: something set up as an example against which others of the same type are compared. The gold standard is a monetary system in which a region's common media of exchange are paper notes that are normally freely convertible into pre-set, fixed quantities of gold.   Under the gold standard, the government can only print as much money as its country has in gold. Synonyms for gold standard include benchmark, standard, barometer, yardstick, bar, criterion, measure, ideal, optimum and mark. When used in the context of laboratory testing for assessment or diagnosis, a gold standard test is the one accepted by most professionals as the most reliable and accurate. When the gold standard was in place, an individual could present a $10 bill to a federal bank and receive $10 worth of gold in return. Federal Reserve Chairman Jerome Powell told Congress on Wednesday that he doesn't think a return to the gold standard in the U.S. would be a … The gold standard is a monetary system in which a nation’s currency is pegged to the value of gold. The U.S. now has a fiat money system, meaning … In addition to Whizz Education’s strong example of consumer-facing customer support, we spoke with a Fortune 400 SaaS company, Endaco, to understand how they provide gold-standard customer support in the enterprise sphere. The benefit of a gold standard is that a fixed asset backs the money's value. gold standard Criterion standard The best or most successful diagnostic or therapeutic modality for a condition, against which new tests or results and protocols are compared. Learn more. Find another word for gold standard. The country effectively abandoned the gold standard in 1933, and completely severed the link between the dollar and gold in 1971. gold standard meaning: 1. a system of providing and controlling the exchange of money in a country, in which the value of…. 12 synonyms of gold standard from the Merriam-Webster Thesaurus, plus 13 related words, definitions, and antonyms.   Proponents of a gold standard say it provides a self-regulating and stabilizing effect on the economy. The price of gold became a barometer for … Find more similar words at wordhippo.com! To establish a worldwide gold standard system today would mean that all existing debts and commitments — government bonds, Social Security, Medicare, public and … Type are compared meaning … Gold-standard enterprise customer support: something set up as an example against others. In 1933, and almost universally valued standard, barometer, yardstick, bar,,. 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