Multiple Choice
The currency of Camelot is the noble.King Arthur orders the minting of a five-noble gold coin,but it costs only four nobles to mine and process the amount of gold in the coin.Which of the following statements is true?
A) The seigniorage that King Arthur has to pay is five nobles.
B) The seigniorage that King Arthur has to pay is four nobles.
C) The seigniorage that King Arthur has to pay is one noble.
D) The five-noble coin is token money.
E) The five-noble coin is fiat money.
Correct Answer:
Verified
Correct Answer:
Verified
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