A System That Uses Commodity-Backed Paper Currency Is Most Like

question 30

Multiple Choice

A system that uses commodity-backed paper currency is most like a system that

• A) uses circulating private bank notes.
• B) uses fiat money.
• C) primarily relies on transaction deposits at banks.
• D) uses commodity money.
• E) primarily relied on financial intermediaries.

---

Definitions:

Silicon Valley

A region in Northern California known for its significant number of innovative tech companies and startups.

Software Makers

Individuals or companies that develop, create, and sometimes distribute software applications or systems, contributing to the technology and information sectors.

Industrial Policy

Industrial policy encompasses strategies and policies employed by a government to stimulate or regulate different sectors of its economy, aiming at enhancing competitiveness and economic growth.

Prime Objective

The main goal or target an individual, group, or organization aims to achieve.