Which of the following statements is NOT true?
A) Under a system of commodity money, the money must be made of precious metals.
B) Under a gold standard, money can be exchanged for an established amount of gold.
C) Fiat money has value because the government says it does.
D) Both the gold standard and commodity money system deter high rates of inflation.
Correct Answer:
Verified
Q1: Which of the following is not a
Q2: By providing a standard measure for prices
Q3: By allowing people to carry purchasing power
Q4: During times of _, cash acts as
Q5: An economy uses coins made of gold
Q7: The gold standard refers to a system
Q8: Fiat money refers to a system where
Q9: Which of the following is NOT considered
Q10: _ are not considered to be ideal
Q11: Which of the following statements is NOT
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