Question

What is " representative full bodied money "? Is representative full bodied money and full bodied money the same? explain.

Answer 1

Explanation:

Full bodied money refers to the one for which the intrinsic value of money ( value of commodity of which it is made) is equal to its face value. On the other hand, representative full bodied money is the one for which the intrinsic value is less than the face value.

Answer 2

Answer -

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• The value of representative full-bodied money is much higher than its value as a commodity. It is accepted as money as it can be.

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