commodity dollar

noun

Definition of commodity dollar

: a unit of a proposed form of currency whose gold value is arbitrarily determined by and whose nominal gold content is periodically adjusted to an index number reflecting market prices of basic commodities

called also compensated dollar

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Cite this Entry

“Commodity dollar.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/commodity%20dollar. Accessed 4 Dec. 2020.

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