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OpenStudy (anonymous):
please help me! Which of the following describes the money used by the U.S.? a. Representative money. b. Commodity money. c. Fiat money. d. Script money
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OpenStudy (anonymous):
Representative money is like bills and coins. Commodity money is for example cattle, or grain. If I sold you a bar of iron I would be using commodity money, and if you payed with bills you would be using representative money. :)
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