select the correct answer. during wartime, a small country issued certificates to the public to raise money…

select the correct answer. during wartime, a small country issued certificates to the public to raise money. each certificate promised to pay the holder a certain amount in silver. after the war was over, the population continued exchanging these certificates instead of converting them to silver. what type of money did this economy use? a. commodity b. fiat c. representative d. precious metal

select the correct answer. during wartime, a small country issued certificates to the public to raise money. each certificate promised to pay the holder a certain amount in silver. after the war was over, the population continued exchanging these certificates instead of converting them to silver. what type of money did this economy use? a. commodity b. fiat c. representative d. precious metal

Answer

Brief Explanations:

Representative money is a type of money that has no intrinsic value but represents something that does have value, like silver in this case. The certificates were promised to be exchanged for silver and were used as money instead of actual silver. Commodity money is the actual commodity (like silver itself), fiat money has value by government decree, and precious - metal money is the precious metal being used as money. Here the certificates are representative of silver.

Answer:

C. representative