Why does fiat money have value?
A) because people accept it
B) because it has intrinsic worth
C) because it is backed by commodity reserves
D) because of its metallic content
Correct Answer:
Verified
Q53: Who were most likely the first bankers?
Q54: What happens to the purchasing power when
Q55: Which of the following is an important
Q56: Who were the original bankers?
A) seigniors
B) governments
C) savings and
Q57: How is the value of money determined?
Q59: What kind of reserve system do modern
Q60: What is meant by a fractional reserve
Q61: Which of the following is NOT a
Q62: Some financial institutions are known as financial
Q63: Which of the following is a depository
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