Which of the following is true of private money?
A. It can only be used for making payments between private parties who agree in advance to its use.
B. It cannot consist of any other sort of transferable material but official money.
C. It can be used to pay public debts.
D. It is an example of reserve currency.
Answer: A. It can only be used for making payments between private parties who agree in advance to its use.
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