Economic Concepts: Bank Offshoring & Money Types

He pledged his own money and coordinated efforts among bankers. (correct)

He became the first chairman of the U.S. Federal Reserve.

He introduced the gold standard to stabilize the currency.

He made risky investments that led to the financial crisis.

Token money is redeemable for precious metals, while fiat money is not. (correct)

Token money is primarily used in Europe, while fiat money is widespread in Asia.

Token money has a more historical significance than fiat money.

Token money is derived from natural resources, whereas fiat money is typically made from modern materials.

Globalization always ensures smooth operational transitions.

Offshoring can lead to increased profits without risks.

Offshoring results in short-lived revenue growth and damage to the brand. (correct)

Strategic trade policies effectively cushion the effects of outsourcing.

<p>Fiat money's value relies solely on government decree and public trust.</p> Signup and view all the answers

<p>It prevented a major banking collapse by stabilizing the financial system.</p> Signup and view all the answers