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Question 17 1 pts According to Keynesian theory, what determines the value of money in a fiat monetary system? the opportunit
D Question 19 1 pts What determines the value of money in a commodity money system? The supply and demand of the commodity th
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17) the purchasing power of money.

( Keynes approached the determination of Value of money from the point of view of Real balances. Internal value of a currency is the amount of goods and services that can be bought using the currency.)

19) supply and demand of the commodity

that serves as money.

( Robertson was one of the prominent exponents of commodity theory of money.He Stated that, value of money is primarily determined by the same factors that determine the value of any other thing - the forces of demand and supply.)

20) lncrease in the supply of gold.

( There were many gold mines in America. So , supply of gold was increased. Since demand almost remained unchanged, Increase in supply of gold led to a fall in its prices.)

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