Asked by Alanna Davis on Jul 02, 2024
Which of the following are legal tender?
A) A check
B) A Federal Reserve note
C) A bank note issued by a private bank
D) A credit card
E) A traveler's check
Legal Tender
The officially recognized form of money that must be accepted if offered in payment of a debt.
Federal Reserve Note
The official paper currency issued by the Federal Reserve in the United States, commonly known as the dollar.
- Understand the distinctions among types of money, including commodity money, fiat money, and legal tender.
Learning Objectives
- Understand the distinctions among types of money, including commodity money, fiat money, and legal tender.