Fiat money is:
A) any form of money that can be legally exchanged into a fixed amount of an underlying commodity.
B) money created by rule.
C) money used together with the barter of goods.
D) any form of money that trades goods with intrinsic value.
Correct Answer:
Verified
Q35: Banks create money in the economy by:
A)
Q36: Under fractional reserve banking:
A) banks only need
Q37: What is a major danger of fiat
Q38: Banks earn money:
A) by lending funds and
Q39: Modern banks in the United States keep
Q41: What does a money multiplier of 10
Q42: The amount of money available in the
Q43: If someone deposits $10,000 into a savings
Q44: The monetary base:
A) is the least narrow
Q45: Suppose a bank operates in a country
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