It showed that African American soldiers contributed greatly to the war effort.
Christianity almost disappeared or Christianity had to cremate there dead
Karen used her silver receipt representative money to purchase a bike. Luke purchased two dozen eggs with commodity money and six apples.
Chris used coins from the government's flat money to purchase a bagel.
<h3>What is commodity money?</h3>
- Money that derives its worth from the commodity from which it is made is known as commodity money.
- Commodity money is made up of things that have worth or utility beyond only being exchangeable for products (intrinsic value).
- This contrasts with fiat money, which derives its value from having been established as money by government regulation, and representational money, which has no intrinsic worth but instead represents something valuable like gold or silver, which can be exchanged.
<h3>What is flat money?</h3>
- A form of currency known as fiat money is not backed by any physical good, like gold or silver.
- Usually, the government declares something to be legal tender through a decree.
- Fiat money has occasionally been created throughout history by regional banks and other organizations.
Learn more about commodity money here:
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Answer:
<em>Exchange rates tells us the amount of one's currency that you can exchange for another.</em>
<em>Take it as an example,</em>
<em> the dollar's exchange rate tells you how much a dollar is worth in a foreign currency. You would get a little less than the exchange rate as the banks charge their service fee. Conversely, a pound was worth $1.31.</em>
<em>hope this has helped you !</em>
