Two essential elements of any monetary system are the establishment of i. an accepted means of payment. ii. a stable commodity to back the means of payment. iii. a unit of account. ○ a. both ii and iii O b. both i and ii O c. both i and iii

Two essential elements of any monetary system are the establishment of i. an accepted means of payment. ii. a stable commodity to back the means of payment. iii. a unit of account. ○ a. both ii and iii O b. both i and ii O c. both i and iii

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter12: Money And Banking

Section: Chapter Questions

Problem 2E

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Question

Two essential elements of any monetary system are the establishment of i. an accepted means of
payment. ii. a stable commodity to back the means of payment. iii. a unit of account.
○ a.
both ii and iii
O b. both i and ii
O c. both i and iii

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