select the correct answer. mario paid three bushels of rice for three boxes of wool at the market. what type…

select the correct answer. mario paid three bushels of rice for three boxes of wool at the market. what type of money did mario use for this exchange?\na. fiat\nb. commodity\nc. representative\nd. goods

select the correct answer. mario paid three bushels of rice for three boxes of wool at the market. what type of money did mario use for this exchange?\na. fiat\nb. commodity\nc. representative\nd. goods

Answer

Brief Explanations:

Commodity money is money whose value comes from a commodity. Here, rice is used as a medium of exchange, which is a form of commodity money. Fiat money is currency declared legal - tender by a government but has no intrinsic value. Representative money represents a claim on a commodity. Goods are items of value in general, not a type of money in this context.

Answer:

B. commodity