Multiple Choice
How is the value of money determined?
A) by people's belief that it is worth something
B) by the amount of precious metal that the government holds to back the money
C) by the money's market value as a commodity
D) by the rate of interest, which is the price paid to borrow money
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q38: Under what circumstances would it be less
Q39: When silver and gold were used as
Q40: When is exchange necessary in an economy?
Q41: Suppose an ocean liner sinks and the
Q42: When is money considered to be legal
Q44: Which of the following members of the
Q45: Which of the following is NOT a
Q46: Suppose people are using quartz as a
Q47: How does money function as a unit
Q48: When does fractional reserve banking occur? <br>A) when