Commodity money can best be described as
A) money used to purchase agricultural products
B) a good used as money that also has value independent of its use as money
C) standardized goods like gold that trade in a financial market
D) the form of money used in a barter system
B
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According to your authors, a recessionary "bust" is
A) an inherent part of any market economy. B) a correction of the mistakes generated during the prior expansionary "boom." C) an event that can be successfully recovered through fiscal "stimulus" policies. D) identified by a rise in real GDP.
The new monetary policy tool that the Fed began using in 2008 is
A) changing the interest rate paid on reserves. B) imposing a surcharge on credit cards. C) putting a tax on all financial transactions. D) borrowing from China.