Fiat money has value because it
A) is backed by gold.
B) can be used to buy goods and services.
C) can be exchanged for precious metals at a fixed price.
D) can be divided into smaller units.
E) All of these responses are correct.
Correct Answer:
Verified
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Q86: The narrowest definition of the money supply
Q87: Commodity money is
A)backed by gold.
B)money with intrinsic
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Q91: Which of the following definitions of the
Q93: Fiat money is money
A)backed by land.
B)backed by
Q94: Money as defined by M1 includes
A)coins.
B)paper money.
C)checking
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