11 multiple choice 2 points which type of money does the diagram best describe? ? money has value because of…

11 multiple choice 2 points which type of money does the diagram best describe? ? money has value because of its materials has been common throughout history includes gold and silver coins a. fiat d. m1 b. commodity c. representative

11 multiple choice 2 points which type of money does the diagram best describe? ? money has value because of its materials has been common throughout history includes gold and silver coins a. fiat d. m1 b. commodity c. representative

Answer

Brief Explanations:

Commodity money has value due to the materials it is made of, has been common throughout history, and includes gold and silver coins. Fiat money has value because the government declares it as legal - tender. M1 is a measure of the money supply. Representative money is paper money that can be exchanged for a fixed amount of a commodity. The description in the diagram fits commodity money.

Answer:

b. Commodity