Any circulating money which has little real value relative to its monetary value is called:
A)credit money
B)representative full-bodied money
C)full-bodied money
D)all of the above

Question

Quizplus · Accepted Answer

Credit money refers to money that is not backed by a physical commodity, such as gold or silver, but rather by the creditworthiness of the issuer or the government. This type of money has little real value relative to its monetary value and is often used for transactions or exchange. Representative full-bodied money refers to money that is backed by a physical commodity, such as gold or silver, and has value equal to its weight in that commodity. Full-bodied money refers to paper money that is fully backed by gold or silver reserves. As these options are not the best choices to answer the question, the answer is A) credit money.

Any Circulating Money Which Has Little Real Value Relative to Its