Commodity money is money that:
a. has no value as a commodity.
b. is not backed by gold or silver and is not a legal tender.
c. may go out of circulation with an increase in its intrinsic value.
d. always has a face value greater than the intrinsic value.
e. is solely used in barter exchanges.
c
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According to the infant industry argument for trade protectionism
A) new industries are capable of competing with established rivals. B) trade barriers must be used to protect domestic workers. C) new industries need to be shielded from competition in the early stages of learning by doing. D) tariffs imposed to aid new industries should never be removed.
A corporation's earnings are
a. the amount of revenue it receives for the sale of its products minus its costs of production as measured by its accountants minus the dividends paid out. b. the amount of revenue it receives for the sale of its products minus its direct and indirect costs of production as measured by its economists minus the dividends paid out. c. the amount of revenue it receives for the sale of its products minus its costs of production as measured by its accountants. d. the amount of revenue it receives for the sale of its products minus its direct and indirect costs of production as measured by its economists.