Fiat money,by definition,is money that
A) is declared to have a certain value below its intrinsic value.
B) can be exchanged for a commodity at a fixed rate; there is no inherent value.
C) is inherently valuable; its value as a medium of exchange is in addition to its inherent value.
D) has no value except as a medium of exchange; there is no inherent or intrinsic value.
E) an intrinsic value equal to its value as a medium of exchange.
Correct Answer:
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