What is a characteristic of paper money? Question 23 options: It is valuable because it is generally accepted in trade. It has a high intrinsic value. It hinders efficient allocation of resources. It is valuable only because of the legal tender requirement.

Functions of money . a store of value . a unit of account . a medium of exchange

Answered: characteristic of paper money?…

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter18: Money And The Federal Reserve System

Section: Chapter Questions

Problem 1SQ

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	It is valuable because it is generally accepted in trade.
	It has a high intrinsic value.
	It hinders efficient allocation of resources.
	It is valuable only because of the legal tender requirement.