What characterizes currency?
A) It has intrinsic value.
B) It has no intrinsic value.
C) It may be used as a medium of exchange but is not legal tender.
D) It performs all the functions of money except providing a unit of account.

Question

Quizplus · Accepted Answer

Currency has no intrinsic value and relies on the faith and trust placed in it by individuals and institutions as a medium of exchange. It is not backed by a physical commodity like gold or silver.

What Characterizes Currency