Fiat money has value because:
A) it is backed by gold.
B) it is divisible.
C) it can be used to buy things.
D) it can be exchanged for a commodity backing it.
Correct Answer:
Verified
Q53: One major problem with some commodity monies
Q54: Which of the following backs our money
Q55: The idea behind money as a standard
Q56: Which of the following is not included
Q57: "Near monies" are:
A)included in the M1 definition
Q59: The difference between M1 and M2 is
Q60: Which of the following is not one
Q61: The process of money creation can be
Q62: A depositor cannot directly write checks against:
A)demand
Q63: If the reserve requirement is 15 percent
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