Differentiate between commodity money and fiat money

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Reference no: EM13160856

I need these questions answered correctly please! If you answer them all YOU WILL GET THE 3000 PTS. Just answer the questions correctly.

1. Differentiate between commodity money and fiat money. Which was used during the colonial years and what problems were common with this type of money?

2. How did strict constructionism and interstate commerce influence the development of the nation's infrastructure during the antebellum period.

3. If the market ratio of silver to gold is 13:1 and the mint ratio is 14:1, then gold will circulate as money. True or False? Explain.

4. Based on our discussion of Zimbabwe, do you agree that Zimbabwe's currency prior to dollarization was an acceptable medium of exchange? Be sure to consider the characteristics that contribute to a well functioning medium of exchange.

5. Use the concept of "Incentives Matter" to explain why the change from planter shares (communal ownership) to private ownership, during the colonial years, improved worker incentives and fostered economic growth.

Reference no: EM13160856

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