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When Currency Is Not Backed by Precious Metals but Has

question 26

Multiple Choice

When currency is not backed by precious metals but has value simply because people accept it as money, then the country has what type of money system?


Definitions:

Verbal Communication

The process of conveying messages, ideas, or feelings through the use of spoken or written language.

Extralinguistic Information

Information conveyed in communication that is not expressed through words themselves but through context, tone, body language, and other nonverbal cues.

Syntactical Structure

The arrangement of words and phrases to create well-formed sentences in a language.

Conversational Inference

The process of deriving additional meaning from a conversation beyond what is explicitly stated, based on context and prior knowledge.

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