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Questions and Answers
Which of the following is an example of limited legal tender money?
Which of the following is an example of limited legal tender money?
- Credit money
- Silver coins (correct)
- Paper notes
- Gold coins
What is the difference between full bodied money and representative full bodied money?
What is the difference between full bodied money and representative full bodied money?
- Representative full bodied money is made of gold and silver, while full bodied money is made of paper
- There is no difference between the two
- Face value is equal to intrinsic value in full bodied money, while it is less in representative full bodied money (correct)
- Full bodied money is used for unlimited legal tender, while representative full bodied money is used for limited legal tender
What are the two types of legal tender money?
What are the two types of legal tender money?
Limited legal tender money and unlimited legal tender money.
What is credit money?
What is credit money?
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What is full bodied money?
What is full bodied money?
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What is credit money?
What is credit money?
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