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ari File Edit View History Bookmarks Window Help digital Question Confidence I think I know it You lost 30 poirts on this question Money that has no value except as a medium of exchange Activity Score at money 585 An exchangeable good of intrinsic value, such as silver or tobacco Carrent Grade 096 oumust least 20 Commodity mone more questons to eceive a Paper bills and coins used as money Next Question Currency Show Feedback Money that can be exchanged for a commodity at a fixed rate. Commodity-backed money

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The difference between commodity money and fiat money is in the fact that fiat money h a value by the decree of the state hile commodity money has an intrinsic value. "Commodity-backed money", also known as "representative money". Many currencies have consisted of bank-issued notes which have no inherent physical value, but which may be exchanged for a precious metal, such as gold.

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