Which of the following is a correct reason for stating that the United States has a fiduciary monetary system?
I. Our money is convertible to a fixed amount of silver or gold.
II. Our money has a predictable value.
A)I only
B)II only
C)Both I and II
D)Neither I nor II

Question

Quizplus · Accepted Answer

The United States has a fiduciary monetary system because its money is not backed by a physical commodity like gold or silver (making I incorrect), but it does have a predictable value based on trust and government backing (making II correct).

Which of the Following Is a Correct Reason for Stating