Countries today use _____ money rather than _____ money.
A) medium; value
B) commodity; fiat
C) fiat; commodity
D) value; medium

Question

Quizplus · Accepted Answer

Countries today predominantly use fiat money, which is currency that a government has declared to be legal tender, but it is not backed by a physical commodity. Commodity money, on the other hand, is made up of physical goods such as gold or silver, which have intrinsic value.

Countries Today Use _____ Money Rather Than _____ Money

Countries Today Use _ Money Rather Than _ Money