Commodity-Backed Money Is

question 23

Multiple Choice

Commodity-backed money is:

• A) a medium of exchange with no intrinsic value.
• B) equivalent to commodity money.
• C) a medium of exchange with alternative economic uses.
• D) gold and silver coins used for exchange.

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Definitions:

Hornfels

Hornfels is a metamorphic rock formed by the contact between mudstone or other clay-rich rock and a hot igneous body, characterized by its hardness and fine grain.

Greenstone

Metamorphosed basalt or other mafic volcanic rock, typically found in ancient geological formations.

Banded Gneiss

A metamorphic rock characterized by alternating light and dark mineral bands, formed under high-temperature and high-pressure conditions.

Anticline

A type of fold in the earth's surface where the strata have been bent upwards, creating an arch-like shape.