Question

1. what is an example of commodity money?

precious stones a
coins
currency
a tractor
6.
the government agency that covers customer deposits if a bank fails is the
federal reserve system. a
central bank.
member bank.
federal deposit insurance corporation (fdic).
7.
what is the name for a monetary system in which paper money and coins are equal to the value of a certain amount of gold?
federal reserve note a
federal reserve system
greenback
gold standard

1. \specie\ is a term used as early as the 1600s for

gold and silver coins. a
paper currency.
goldsmiths receipts.
tobacco.

Explanation:

Question 5

Commodity money has intrinsic value. Precious stones have value in themselves and can be used as money. Coins and currency are usually fiat money, and a tractor is not typically used as money.

The FDIC (Federal Deposit Insurance Corporation) insures customer deposits in case a bank fails. The Federal Reserve System is the central bank, a central bank is a broader term, and a member bank is part of the Fed system but doesn't insure deposits.

The gold standard is a monetary system where paper money and coins are convertible to a fixed amount of gold, meaning their value is tied to gold. Federal Reserve notes are fiat currency, the Federal Reserve System is the central bank, and greenbacks were early US paper money not tied to gold in the same way.

Answer:

A. precious stones

Question 6