A Good Can Serve as Money Only If

question 276

Multiple Choice

A good can serve as money only if

• A)government mandates that the good must be accepted in payment of debts.
• B)it is declared by authorities to be legal tender.
• C)it has intrinsic value or if it is backed by precious metals.
• D)citizens accept the good as a means of payment for transactions and debts.

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Definitions:

Rights

Entitlements or freedoms that are guaranteed to individuals by law, tradition, or moral principles, allowing them to perform or refrain from specific actions.

Free Blacks

African Americans who were not enslaved, living primarily in the North before the Civil War and in various parts of the country after abolition.

Thomas Jefferson

An American Founding Father, the principal author of the Declaration of Independence (1776), and the third President of the United States (1801–1809) known for his promotion of the ideals of republicanism in the United States.