Single Answer MCQ
Q-00045381
Why is modern currency accepted as a medium of exchange?
1
It is made of gold
2
It is backed by the government
3
It can be used for barter
4
It has intrinsic value
Answer and Solution
Answer
B. It is backed by the government
Solution:
Modern currency is accepted because it is authorized and backed by the government, making it a recognized medium for transactions.
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