1. What is the primary function of money in an economy?
2. Which type of money is backed by a physical commodity such as gold?
3. What is a key advantage of bonds over stocks for raising capital?
Money — functions?
Medium of exchange, unit of account, store of value.
Types of Money — examples?
Commodity, representative, fiat, greenbacks.
Bond — key feature?
Pays interest and matures at par.
Money — functions?
Medium of exchange, unit of account, store of value.
Types of money?
Commodity, representative, fiat, greenbacks.
Gold standard — effect?
Limited money supply, backed by gold.
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