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Sati [7]
3 years ago
9

Which type of money is based only on faith?

Business
2 answers:
V125BC [204]3 years ago
7 0

Answer: Fiat money

Explanation:

<em>Fiat money</em> refers to money that the government has ordered to accept as a means of payment for any kind of exchanges in the economy. This money has value only because the government has ordered so. If people have no faith in the government then they will have no value for fiat money.

While, commodity money refers to money whose value comes from the commodity with which it is made. They have their own intrinsic value.

Representative money is money  that has no intrinsic value but represent something of value such as silver or gold certificates.

Foreign money is also foreign currency which is used to exchange. This is just fiat money of another country.

Gelneren [198K]3 years ago
6 0
I believe fiat money is the correct answer here.

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Aggregate supply describes the total supply of products and services produced in an economy at all prices per period. The aggregate supply curve, shortened to AS, shows the relationship between total supply from producers and different price levels.

A shift in the supply curve communicates a change in the quantity of supply. The Aggregate supply curve shift to the right when there is an increase in output. In other words, when output from producers increases, the aggregate supply curve shifts to the right. Output or productivity increases when the price of key inputs falls,  lower labor costs, or increased efficiency.

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2 years ago
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2 years ago
On October​ 1, 2019, Fashion Jewelers accepted a​ 5-month, 11% note for​ $7,500 in settlement of an overdue account receivable.
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