If an economy's money is not backed by anything tangible, such as gold or silver, it is on a paper money standard.

Name: If an economy's money is not backed by anything tangible, such as gold or silver, it is on a paper money standard.
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A paper money standard, also known as fiat money, is a currency that has no intrinsic value and is not backed by physical commodities like gold or silver. Its value is derived from the trust and confidence of the people who use it.

If an Economy's Money Is Not Backed by Anything Tangible