Which of the following statements is true?
A) Because credit cards can be used as a medium of exchange, they are also considered money.
B) Fiat money is money that is backed by a commodity other than gold.
C) Because checks just enable the transfer of funds from one bank account to another, they are not considered money.
D) Under a gold standard, all coins in the economy must be made of gold.
Correct Answer:
Verified
Q10: _ are not considered to be ideal
Q11: Which of the following statements is NOT
Q12: Under the current U.S monetary system, _
Q13: Under the current U.S. monetary system, _
Q14: Under the current U.S monetary system, currency
Q16: Commodity money refers to money that:
A) is
Q17: Money that has value apart from its
Q18: According to the principle of time value
Q19: Which of the following is NOT included
Q20: Which of the following is NOT included
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