What is true of representative money? Check all that apply.

It can be exchanged for a valuable good.

It was once the most common form of money.

It was used in systems involving a "gold standard."

It can be traded for a commodity such as silver.

It is made with precious metals or stones.

Question

Social Studies

Melina Rice

7 October, 22:12

What is true of representative money? Check all that apply.

It can be exchanged for a valuable good.

It was once the most common form of money.

It was used in systems involving a "gold standard."

It can be traded for a commodity such as silver.

It is made with precious metals or stones.

+3

Answers (1)

Know the Answer?

Colby Ryan · Answer 1

I believe the answer is::

- It can be exchanged for a valuable good

- it was used in systems following a gold standard

- It can be traded for a commodity such as silver.

Representative money are the type of money that has greater face value than its material substance.

For examples, $100 bill and checks are made by paper which is significantly cheaper compared to the value that these money can bought for the holder. (it could be exchanged for products or investment commodities)

What is true of representative money? Check all that apply.It can be exchanged for a valuable good.It was once the most common form of money.It was used in systems involving a "gold standard."It can be traded for a commodity such as silver.It is made with precious metals or stones.

What is true of representative money? Check all that apply.

It can be exchanged for a valuable good.

It was once the most common form of money.

It was used in systems involving a "gold standard."

It can be traded for a commodity such as silver.

It is made with precious metals or stones.