Which of the following does not explain what backs the money supply in the United States?
a. It is backed by gold.
b. It is widely accepted in transactions.
c. It is designated "legal tender" by the federal government.
d. It is relatively scarce.
Gold is a what backs the supply of money in the united states. Money is a legal tender that is widely acceptable. Gold is neither a commodity or money but it is in use to get money not a backing of supplying money.
