When Colonists in Virginia Used Tobacco as Money,their Money

question 3

Multiple Choice

When colonists in Virginia used tobacco as money,their money

• A)was commodity money.
• B)had no intrinsic value.
• C)was fiat money.
• D)had no store of value.

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Definitions:

Habituate

The process by which a person or animal becomes accustomed to a stimulus, leading to a decrease in response over time.

Primacy Effect

A bias towards better memory retention for items at the start of a list compared to those that come after.

Elaboration Effect

This effect describes how detailed processing and the integration of information into existing knowledge structures enhance memory retention.

Recency Effect

A memory phenomenon where the most recently presented items or experiences are likely remembered best.