Two essential elements of any monetary system are the establishment of
A) an accepted means of payment.
B) a stable commodity to back the means of payment.
C) a unit of account.
D) both a and b.
E) both a and c.

Question

Quizplus · Accepted Answer

The two essential elements of any monetary system are an accepted means of payment and a unit of account. These allow for the standardization and valuation of goods and services, facilitating trade and economic activity.

Two Essential Elements of Any Monetary System Are the Establishment