A good can serve as money only if A government mandates that the good must be accepted in payment of debts. B it is declared by authorities to be legal tender. C it has intrinsic value or if it is backed by precious metals. D citizens accept the good as a means of payment for transactions and debts.

A good can serve as money only if

A government mandates that the good must be accepted in payment of debts.
B it is declared by authorities to be legal tender.
C it has intrinsic value or if it is backed by precious metals.
D citizens accept the good as a means of payment for transactions and debts.

 

 

Answer:

option B

 

Asked on February 15, 2018 in economics.
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