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In Ancient Japan, they measured wealth according to the number of sake a person could drink. True or False?
False. They measured one's wealth using koku, which was a unit of rice a man can consume for a year.
The Bank of England issued the first credit card. True or False?
False. The Bank of America issued a card that would later become Visa.
The first paper money in Europe was real money. True or False?
False. At the beginning, bank notes (paper money) was just a promise note of owning a certain amount of coins.
Paper money was first invented in China. True or False?
True. They used "deerskin notes", a predecessor of paper currency which was a Chinese invention.
In the past, coins were minted by the local bank. True or False?
False. Kings or local rulers produced or backed the early coins.
Some coins had holes in the center so they could be carried on a string. True or False?
True
Salt was used as money. True or False?
True. People in the past also used shells, beads, metals as some form of money.
Before money was invented, people used goods to exchange for other goods and services. True or False?
True. Both party have to agree on what the value was of being traded.
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