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Credit Theories of Money Quiz

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Questions and Answers

According to credit theories of money, what is the relationship between credit and money?

According to credit theories of money, credit and money are considered to be the same thing, seen from different points of view.

What do some proponents of credit theories of money argue about the nature of money in systems often understood as using commodity money?

Some proponents argue that money is best understood as debt even in systems often understood as using commodity money.

What are the two common strands of thought within credit theories of money?

The two common strands of thought within credit theories of money are the idea that money originated as a unit of account for debt, and the position that money creation involves the simultaneous creation of debt.

Who has been identified as the first known advocate of a credit theory of money according to Joseph Schumpeter?

Plato has been identified as the first known advocate of a credit theory of money according to Joseph Schumpeter. Signup and view all the answers

According to anthropologist David Graeber, how has money been widely understood for most of human history?

According to anthropologist David Graeber, for most of human history, money has been widely understood to represent debt. Signup and view all the answers

What potential benefits does digital money offer to emerging market and lower-income economies?

Digital forms of money could provide broad and inexpensive access to financial services for 1.7 billion people without traditional bank accounts, and facilitate trade and market integration. Signup and view all the answers

What are some of the risks associated with the transition to digital money?

The transition to digital money could exclude those on the other side of the digital divide, lead to fragmentation, currency substitution, and loss of policy effectiveness if not well managed, coordinated, and regulated. Signup and view all the answers

How might digital money impact a worker in the United States in the near future?

In the near future, an employer could deposit the worker's paycheck in a digital wallet, allowing her to send money to relatives in other countries more cheaply and efficiently. Signup and view all the answers

What is the significance of digital money for emerging markets and lower-income countries?

Emerging markets and lower-income countries stand to gain the most from the potential transformation of the financial sector through digital money. Signup and view all the answers

What is the key requirement for the successful adoption of digital money in emerging markets and lower-income countries?

The successful adoption of digital money in emerging markets and lower-income countries requires well-managed, coordinated, and sound regulation. Signup and view all the answers

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