_______ is a monetary system in which the money has no intrinsic value. In this system, the money is backed by the government.

Question

Quizplus · Accepted Answer

Fiat money is a monetary system in which the currency has no intrinsic value and is not backed by any physical commodity (such as gold or silver). Instead, the value of fiat money is determined by supply and demand in the market and is supported by the government's ability to maintain the currency's value and stability. This is the most common type of monetary system used today.

_______ Is a Monetary System in Which the Money Has