Suppose that the value of a nation's money is less in alternative uses than its value in exchange. We can conclude that the nation's money is:

Question

Quizplus · Accepted Answer

Token money is characterized by having a face value that is greater than its intrinsic value or cost of production, meaning it is worth more in exchange than in alternative uses. This is in contrast to commodity money, whose value comes from the material it is made of.

Suppose That the Value of a Nation's Money Is Less