All U.S.paper dollars read "This note is legal tender for all debts,public and private." This statement represents which characteristic of US currency?
A) The U.S.operates under the gold standard.
B) U.S.paper money is commodity money.
C) U.S.paper money is fiat money.
D) U.S.paper money is a convenient store of wealth.
Correct Answer:
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Q39: Imagine an economy in which: (1)pieces of
Q40: Treasury Bonds are
A)liquid,but not a store of
Q41: The set of items that serve as
Q42: Paper dollars
A)are commodity money and gold coins
Q43: Currently,U.S.currency is
A)fiat money with intrinsic value.
B)fiat money
Q45: Currency includes
A)paper bills and coins.
B)demand deposits.
C)credit cards.
D)Both
Q46: For purposes of analyzing the money stock
Q47: Paper money
A)has a high intrinsic value.
B)is the
Q48: Which type of money has intrinsic value?
A)commodity
Q49: The set of items that serve as
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