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Q: What was a monetary system in which the government would give people silver and gold in exchange for paper currency?
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Dongs do you have them?

Vietnamese people do ... it's part of their monetary currency!


Who benefit inflation?

Probably the people who exchange their currency to a different currency before an inflation, then exchange that foreign currency back, therefore making a profit.


What is Fractional Currency exactly?

Fractional Currency was used during the Civil War due to the fact that many people were hoarding coins for the metal and gold, not for the monetary value. Fractional currency is small denominations that are less than the standard monetary unit. For example, paper money that is worth less than $1. Fractional currency was commonly issued during the Civil War by the government.


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Forex currency exchange works by one person paying another currency for that currency. Generally, there are always rates that people trade with, and they are always changing.


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The monetary unit principle states that people can only record business transactions that can be expressed in terms of a currency. This principle is generally accepted among people.


What is Different between currency paper and notebook paper?

Currency is something people are willing to accept in exchange for goods or services. Dollar bills and coins are example of currency. Most people will not accept notebook paper in exchange for providing a good or service, and thus it is not considered currency.


What is the meaning of monetary board?

A monetary board is a group of people that are in charge of the money supply of currency. They are in charge of imposing parameters for money printing, interest rates, cost, etc.


Why can't the government just print up more money if we are not on the gold standard?

Whether we are on gold standard or not, any currency depends upon the trust reposed in the government by the public. Merely printing currency will only add more money in the hands of the people without corresponding increase in the volume of fiduciary holding of the monetary authority. Public trust will be lost when the purchasing power of money falls due to an excess of currency in circulation.


Why do people work for everything the government back a few thousand years ago people didn't have to pay for anything.?

Currency, or money, has evolved over time. Initially the best form of payment was to exchange/barter/trade services. i.e. The blacksmith would repair chains in exchange for food from the farmer.


According to thomas hobbe's concept of the social contract what do people exchange for protection by the government?

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What do people Exchange for protection by the government according to Thomas hobbies concept of social contract?

According to Thomas Hobbes, people exchange some of their individual freedoms and rights for protection and security by the government. This exchange forms the basis of the social contract, where individuals agree to follow the laws and authority of the government in exchange for the maintenance of order and protection of their rights.


According to Thomas Hobbes's concept of the social contract what do people exchange for protection by the government?

In Thomas Hobbes's concept of the social contract, people exchange their individual freedom or certain rights for protection by the government. This exchange allows for the establishment of order and security within society, as individuals agree to give up some of their liberties in exchange for the state's protection of their lives and property.