Which of the following is not correct about the money kept in transactions accounts?

Name: Which of the following is not correct about the money kept in transactions accounts?
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Money kept in transactions accounts is not backed by gold held by the government. This was the case in the past under the gold standard, but today the money supply is based on fiat money, which is backed by the government's ability to maintain its value and control inflation.

Which of the Following Is Not Correct About the Money