Which of the following "backs" the value of money in the United States?

Question

Quizplus · Accepted Answer

The value of money in the United States is backed by its acceptability as a medium of exchange. This means that people and businesses are willing to accept U.S. currency in exchange for goods and services, making it valuable and in demand. While the Federal Reserve Bank of New York does hold gold reserves, the U.S. dollar is no longer directly backed by gold. The willingness of foreign governments to hold U.S. dollars and the size of the budget surplus in the U.S. government may affect the value of the dollar, but they do not directly back its value.

Which of the Following "Backs" the Value of Money in the United