Dollar bills in the modern economy serve as money because A.they are backed by the gold stored
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Question:
Dollar bills in the modern economy serve as money because
A.they are backed by the gold stored in Fort Knox.
B.they can be redeemed for gold by the central bank.
C.they have value as a commodity independent of their use as money.
D.people have confidence that others will accept them as money.
Related Book For
Managerial Accounting
ISBN: 978-1259024900
9th canadian edition
Authors: Ray Garrison, Theresa Libby, Alan Webb
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