Give me both part of answer Match each concept (roman numbers) with its definition (capital letters).1. CommodityII. Commodity moneyIII. Commodity-backed moneyIV. Fiat moneyA. A bill that is trusted because the government certifies its authenticityB. A silver and platinum necklaceC. Coins made of goldD. A bill that is trusted because the government emits those bills according to theamount of gold reserves they haveOI.B, II.C, III.D, and IV.AOI.A, II.B, III.C, and IV.DOI.B, II.D, III.A, and IV.CI.C, II.B, III.D, and IV.A Consider an economy in which there's one farmer who grows corn and anotherfarmer who grows sheep, and they engage in direct exchange so that theyconsume both goods. Which of the following is true?There is no money in this economy since it's a barter system.In this economy, only corn is considered money.In this economy, only sheep is considered money.In this economy, both corn and sheep are considered money.

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Match each concept (roman numbers) with its definition (capital letters). 1. Commodity II. Commodity money III. Commodity-backed money IV. Fiat money A. A bill that is trusted because the government certifies its authenticity B. A silver and platinum necklace C. Coins made of gold D. A bill that is trusted because the government emits those bills according to the amount of gold reserves they have

Match each concept (roman numbers) with its definition (capital letters). 1. Commodity II. Commodity money III. Commodity-backed money IV. Fiat money A. A bill that is trusted because the government certifies its authenticity B. A silver and platinum necklace C. Coins made of gold D. A bill that is trusted because the government emits those bills according to the amount of gold reserves they have

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter12: Money, Banking And The Financial System

Section: Chapter Questions

Problem 5QP

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