Commodity-backed money's value is guaranteed by a promise that it can be converted to a useful good.

Name: Commodity-backed money's value is guaranteed by a promise that it can be converted to a useful good.
Brand: Quizplus
Rating: 5.0 (40 reviews)

Question

Quizplus · Accepted Answer

Commodity-backed money is backed by a promised conversion to a specific commodity such as gold or silver. This promise guarantees the value of the money, as it can always be exchanged for a tangible, useful commodity.

Commodity-Backed Money's Value Is Guaranteed by a Promise That It