There Are Three Types Of Money Commodity Money Commodity Backed Money And Fiat M

There are three types of money: commodity money, commodity-backed money, and fiat money. What type of money is used in each of the following situations?

A. Bottles of rum were used to pay for goods in colonial Australia?

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B. Salt was used in many European countries as a medium of exchangee?

C. For a brief time, Germany used paper money (the “Rye Mark”) that could be redeemed for a certain amount of rye, a type of grain?

D. The tow of Ithaca, New York, prints its own currency, the Ithaca HOURS, which can be used to purchase local goods and services?