Which of the Following Statements Is True

question 30

Multiple Choice

Which of the following statements is true?

• A) Only a few objects are eligible to be considered a commodity.
• B) A commodity money comes into existence through private,not government,decisions.
• C) A fiat money represents an object that has intrinsic value.
• D) A commodity-backed money and fiat money have the same inherent or intrinsic value.
• E) A commodity money is often determined by government bureaucrats.

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Definitions:

Management Broker

An intermediary who manages the buying and selling of businesses, or the provision of management resources to those businesses.

Bank Audits

A thorough examination of a bank's records and financial statements to ensure accuracy, compliance with regulations, and soundness of financial practices.

Short Run

A period during which at least one factor of production is considered fixed and cannot be varied.

Long Run

In the long run refers to an extended period of time during which all factors of production and costs can be fully adjusted, often used in economics to discuss theoretical outcomes.