Question : Full-bodied money means:
Option 1: Money Value = Commodity Value
Option 2: Money Value > Commodity Value
Option 3: Money Value < Commodity Value
Option 4: Money Value ≠ Commodity Value
Correct Answer: Money Value = Commodity Value
Solution : The correct answer is (a) Money Value = Commodity Value
Full-bodied money refers to a type of money where the value of the currency is directly equivalent to the value of the underlying commodity that it represents or is backed by. In this system, the money value is equal to the commodity value.
Option (a) correctly states that money value is equal to commodity value, which is the defining characteristic of full-bodied money. The value of the currency is directly tied to the intrinsic value of the commodity, such as gold or silver, backing it.
Therefore, the correct answer is Money Value = Commodity Value.
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