What Is Paper Money?
They stand for value, instead of carrying value in themselves.
Video coming soon. The lesson video will appear here once it is published on YouTube.
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1.What is paper money, in the video's words?
They stand for value, instead of carrying value in themselves.
2.What was Marge's receipt for her coins?
Whoever holds the receipt can come back and ask for the coins; passing receipts around turns paper into money.
3.Where did merchants issue notes called jiaozi?
In the early 1000s the government took over issuing them.
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Sources (6)
- American Numismatic Association Money Museum: virtuelle Ausstellung zu Seide
- Sveriges Riksbank: 1661 - First banknotes in Europe (Historical timeline)
- Sveriges Riksbank: 1668 - Sveriges Riksbank is founded (Historical timeline)
- Federal Reserve Board FAQ: Is U.S. currency still backed by gold?
- Federal Reserve Board FAQ: What is lawful money? How is it different from legal tender?
- Eigene Berechnung (synthetisches Quittungsbeispiel)
Education only. Not financial advice.