22: Question

Commodity-backed money

Select one:

a.restricts the use of fewer resources than does commodity money.

b.

is money that has no intrinsic value but whose value is guaranteed by a promise that the commodity-backed money can be converted into valuable goods on demand

c.is a way for society to provide the functions of money without tying up valuable resources.

d.Answers (a), (b), and (c) are all correct.