Fiat money is money
A) backed by land.
B) backed by gold or silver.
C) that can be converted to gold or silver.
D) because a government says it is.
Correct Answer:
Verified
Q2: In the modern U.S.economy,most transactions are made
Q88: One conceptual problem in assigning assets to
Q89: Fiat money has value because it
A)is backed
Q90: Although a variety of commodities have been
Q91: Which of the following definitions of the
Q94: Money as defined by M1 includes
A)coins.
B)paper money.
C)checking
Q95: "Near monies" are
A)stocks, bonds, and real estate.
B)U.S.notes
Q96: On the Micronesian island of Yap, the
Q97: The type of currency in circulation in
Q98: Paper money has been in use since
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