Recall the Application about the cities, school boards, and companies that issued their own currency
during the Great Depression to answer the following question(s).
-According to this Application, at its peak in the 1930s, about $1 billion in currency issued by cities was in circulation during the Great Depression. If people using the currency had enough confidence in this privately-issued scrip to hold onto it for use in future transactions, the currency was acting as a

Question

Quizplus · Accepted Answer

The currency was acting as a store of value because people had enough confidence to hold onto it for future transactions, indicating they believed it would retain its value over time.

Recall the Application About the Cities, School Boards, and Companies