9 Which of the Following Could Not Be Commodity Money

Commodity Money Photo Courtesy. Commodity money is the type of money that is made of precious metals or commodities that have intrinsic value.

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Generally a single item that would be accepted in exchange for other goods.

. C bits could be clipped off coins and melted down without detection. Any other form of commodity money was not in use as it would have hurt the system of business on the road which was. Commodity money is a good that can be used as a medium of exchange or for some other purpose.

Which of the following is one of the major defects of commodity money. Not a standard of deferred payment a Paper money b Commodity money c Bills of exchange d Demand drafts Answer. Trust in Commodity Money.

A it is expensive to produce. In economic terms commodity money has what is known as an intrinsic value. A money that a government has required to be accepted in settlement of debts.

Therefore anything that has an alternate use could be considered a commodity form of money. Band that is playing date of the concert price of the ticket and friends that are going. It is highly illiquid but could eventually be converted to money.

1 Problems with the use of commodity money include all of the following except A it is expensive to produce. See 1974 Amendment note below. Not a good quality of money a Homogeneity b Portability c Cognizability d Changing the value of money Answer.

102546 4029B which directed amendment of first sentence by striking the Secretary of Agriculture or could not be executed because of amendment by Pub. 1 Problems with the use of commodity money include all of the following except. When we talk about commodity money we are referring to that money that the value is taken from the commodity which it is made.

1 Which of the following is not a form of commodity money. This means that it has a value outside of its use as money. Commodity money is to be distinguished from representative money which is a certificate or token which can be exchanged for the underlying commodity but only by a formal processA key feature of commodity money is that the value is directly perceived by its users who recognize the utility or beauty of the tokens as goods in themselves.

Gold and silver coins are the perfect example of commodity money. Money may take a physical form as in coins and notes or may exist as a written or electronic account. C 50 25Y Investment function.

It is neither a medium of exchange nor a unit of account. Which of the following is not a purpose or function of money. Which of the following most accurately explain why commodity money has value.

B money that has a value other than as a currency. Where can one find. Commodity money has become a medium exchange.

An agrarian society could use cows as commodity money because having a reliable farm helper and food source has value in that society. The history of money concerns the development throughout time of systems that provide the functions of moneySuch systems can be understood as means of trading wealth indirectly. If the car is at constant speed then there is no acceleration.

It may however serve as a store of value. A store of value. You are given the following information about the commodity and Money markets of a closed economy without government intervention.

C money that must be backed by gold. So it mostly consists of things that have value in themselves and at the same time have value in their use as money. It lacks durability and does not have the essential property of concentrating high value in small volume-to mention two major objections.

In addition it does not serve as a unit of account. The following items determine your preference for a concert ticket. Calculate the average speed.

Not a metallic money a silver. On silk road during the medieval period Silver from the Chinese empires and Gold minted at the Byzantine empire were exclusively used for trade between all participating nations as we know from the coinage of the period. Dollar and the Euro are both forms of fiat money.

D Changing the value of money. A car travels 350 mph north for 100 hour then 400 mph east for 00500 hour and finally 500 mph northeast for 200 hours. B there is an opportunity of fraud in the production of commodity money.

The intrinsic value of commodity is a crucial part of building its trust. Its worth as a commodity may. Gold as a commodity money fiat money currency and deposit money In which of the following economies are goods and services traded directly for other goods and services.

Phase 4 Intellipath What is Money Which of the following functions of money allows it to hold onto value so that it can be used for some future purpose. Its worth remains intact even after it is melted. Money is a mechanism that facilitates this process.

It is not just a token or representative of monetary value like banknotes. Not an ideal money-commodity. Not directly as with bartering.

I 790 21r The Money Market Precautionary and Transactions demand for money MDT 16 Y Speculative demand for money MDS 1200 -18r. It serves as a store of value. Today fiat money is more common than commodity money.

2 Legal tender is. B All of these. B there is an opportunity of fraud in the production of commodity money.

It is a convenient barter commodity for small-scale transactions and was never used for more than this. This money has a common value and can be easily divided. There is simply no evidence to indicate that tobacco ever played a.

C bits could be clipped off coins and melted down without detection. D it carries a high opportunity cost because the commodity could not be diverted from other uses. Gold is not money because it is not used as a medium of exchange.

A store of value. The commodity market Consumption function. D it carries a high opportunity cost because the commodity could not be diverted from other uses.

A Van Gogh painting is not money.

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