Which of the following is not a characteristic of fiat money?
A) It is generally acceptable as a medium of exchange.
B) It provides a way to store wealth over time.
C) It serves as a unit of account.
D) It changes in value over time as the amount of fiat money changes.
E) It is always backed by something of high intrinsic value.
Correct Answer:
Verified
Q1: Money does NOT function as:
A) a unit
Q2: In which of the following situations does
Q2: Which of the following would be a
Q3: A major advantage of money over barter
Q4: When money is acting as a unit
Q9: What function of money is highlighted when
Q11: Why isn't the barter method of exchange
Q18: When money is acting as a medium
Q18: What function of money is highlighted when
Q30: What function of money is highlighted when
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