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Macroeconomics

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Silver Certificates as Money

MACRO-@8HMKD

Between 1878 and 1964 the U.S. Treasury issued "silver certificates" that were exchangeable on demand into silver by presenting them to the U.S. Treasury. These are an example of what kind of money?

A

Commodity money.

B

Convertible paper money.

C

Fiat money.

D

Checkable deposit money.