In the United States, the purchasing power of money is determined by:

Question

Quizplus · Accepted Answer

The purchasing power of money in the US is determined by its acceptability, meaning that people trust and believe that it holds value and can be exchanged for goods and services. This trust in the currency is established through various factors, such as the stability of the economy and government, the ability to easily exchange for other currencies, and the confidence in the Federal Reserve's management of the money supply. The other options (A, B, and D) are not accurate as the US currency is no longer backed by precious metals, US Treasury bonds do not directly determine the value of currency, and while Congress does have some control over the money supply, it is ultimately managed by the Federal Reserve.

In the United States, the Purchasing Power of Money Is