Which of the following statements is false ?
A) Round stones with holes in the center can serve as money.
B) Money eases the process of exchanging goods and services in a modern economy.
C) Money serves as a measure of value only when it is backed by gold or silver.
D) Money is used as a measure of the relative value of goods and services in an economy.

Question

Quizplus · Accepted Answer

Money can serve as a measure of value even if it is not backed by gold or silver. The value of money is determined by its ability to be exchanged for goods and services in the economy. This is known as fiat money.

Which of the Following Statements Is False