Legal tender is fiat money because it is:
A) a means of exchange that has been established by custom and tradition.
B) a means of exchange that has been established by the value of the metal in a coin.
C) the balance in bank accounts that depositors can access on demand.
D) a means of exchange that has been established by government declaration.
E) the balance in bank accounts that can be easily converted into currency.
Correct Answer:
Verified
Q26: Which of the following is an example
Q27: Which of the following is true of
Q28: Rapid inflation makes holding a large amount
Q29: Which of the following assets is the
Q30: Near monies are:
A)included in the M1 definition
Q32: The problem of double coincidence of wants
Q33: Which of the following is the best
Q34: Which of the following observations is true
Q35: Money as a means of deferred payment
Q36: Identify the correct statement.
A)Paper and metallic currency
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