Commodity Money

question 1

Multiple Choice

Commodity money

• A) has no intrinsic value.
• B) has intrinsic value.
• C) is used exclusively in the economies of western Europe and North America.
• D) is used as reserves to back fiat money.

---

Definitions:

Equivalent Value

The same worth or monetary value as something else.

Rate of Return

The positive or negative financial outcome on an investment through a specific duration, indicated as a percent of the cost of the investment.

Scheduled Payments

Pre-determined payments made at regular intervals, such as monthly mortgage or loan payments.

Compounded Quarterly

Interest calculation method where the interest earned is added to the principal every quarter, increasing the amount on which subsequent interest is calculated.