Since 1933, money is based on ________.

Question

Quizplus · Accepted Answer

Since 1933, the gold standard has been abandoned and money is now based on the trust and confidence in the banking system. The value of money is determined by a complex system of supply and demand in the global economy, rather than being backed by a physical commodity like gold or silver. The Federal Reserve does play a role in regulating the money supply, but ultimately the value of money depends on the trust and confidence that people have in the ability of banks and financial institutions to manage the economy effectively.

Since 1933, Money Is Based on ________