Which of the following is a correct reason for stating that the United States has a fiduciary monetary system? I. The U.S. currency is convertible to a fixed amount of silver or gold.
II) The U.S. currency has a predictable value.
A) I only
B) II only
C) Both I and II
D) Neither I nor II

Question

Quizplus · Accepted Answer

The U.S. has a fiduciary monetary system because its currency is not backed by a physical commodity like gold or silver, but rather by the trust and confidence in the government and its ability to maintain a stable economy, which gives it a predictable value.

Which of the Following Is a Correct Reason for Stating