Representative full-bodied money is paper money that is backed by an amount of precious metal equal in value to the face amount of the paper money.

Question

Quizplus · Accepted Answer

Representative full-bodied money is indeed paper money that is backed by a specific amount of a precious metal, such as gold or silver, equal in value to the face value of the paper money. This means that the holder of the paper money can exchange it for a set amount of the precious metal.

Representative Full-Bodied Money Is Paper Money That Is Backed by an Amount