Asked by Michael Williams on May 01, 2024

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U.S. dollars are an example of commodity money and hides used to make trades are an example of fiat money.

Commodity Money

Money that takes the form of a commodity with intrinsic value

Fiat Money

Money without intrinsic value that is used as money by government decree

  • Recognize the role of commodity money in history and its characteristics compared to fiat money.
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JH
Jabira HoldenMay 02, 2024
Final Answer :
False
Explanation :
U.S. dollars are an example of fiat money, which is currency that a government has declared to be legal tender, but it is not backed by a physical commodity. Hides used to make trades are an example of commodity money, which is money whose value comes from a commodity of which it is made.