Which of the following is an example of fiat money?
A)Gold
B)Paper dollars
C)Solid silver coins.
D)None of the above is correct.

Question

Quizplus · Accepted Answer

Fiat money is money that has no intrinsic value and is backed by the government's decree, rather than by a physical commodity such as gold or silver. Paper dollars are an example of fiat money because their value is determined by the government's backing and the trust of the public in the currency. Gold and solid silver coins have intrinsic value and are not considered fiat money.

Which of the Following Is an Example of Fiat Money