Definition of Money - SS1 Economics Past Questions and Answers - page 1
1
What does it mean for currency to be considered legal tender?
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A
It is a type of digital currency
B
It is recognized by law as an acceptable means of payment for debts and taxes
C
It is a type of currency used only in certain countries
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2
Which of the following is an example of legal tender in the United States?
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A
Bitcoin
B
Credit card
C
U.S. dollar bills
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3
Legal tender laws vary by:
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A
Type of currency
B
Country
C
Both a and b
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4
What is money?
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5
What is the definition of legal tender?
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