Brief Principles of Macroeconomics...
Solutions
Brief Principles of Macroeconomics...
What is commodity money? What is flat money? Which kind do we use?
The commodity money and the Fiat money.
Money is anything which is accepted as payment to the goods and services from a market. It acts as a medium of exchange, store of value, unit of account, and so forth. Any commodity that is being accepted by the economy for this purpose is considered as money. It is usually metal coins and paper currencies.
The commodity money and the Fiat money are two forms of money. The money which has an intrinsic value along with its face value is known as commodity money. This includes the coins which are made up of metals such as gold, silver, and so forth...
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