Paper money in the United States, which has no intrinsic value but can be converted to a valuable good on demand and is used as a medium of exchange, is an example of:
A) fiat money.
B) commodity-backed money.
C) a stock.
D) a bond.
Correct Answer:
Verified
Q442: Currency held in bank vaults and bank
Q443: When a person deposits money in a
Q444: Traveler's checks and checkable deposits are:
A)part of
Q445: Currency in circulation plus bank reserves:
A)forms the
Q446: If banks decide to hold some of
Q448: Suppose a bank faces a 10% required
Q449: When banks extend loans:
A)the money supply decreases.
B)the
Q450: Between 1929 and 1933, bank deposits fell:
A)as
Q451: Fiat money is:
A)the same as commodity money.
B)money
Q452: Deposit insurance:
A)is essentially the same as a
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