1 answer

Gold-backed money: uses more gold resources than does the commodity money such as gold coins has...

Question:

Gold-backed money:

uses more gold resources than does the commodity money such as gold coins

has no intrinsic value but the value is guaranteed that it can be converted into gold at certain price

is a way to provide the functions of money without tying up its value to gold

none of the above


Answers

has no intrinsic value but the value is guaranteed that it can be converted into gold at certain price

Explanation: The value of a gold-backed security is supported by certain amount of gold.

.

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