A system in which money is issued by the government and its value is based uniquely on the public's faith that the currency represents command over goods and services is the

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A fiduciary monetary system is based on the public's trust in the currency issued by the government, rather than any commodity (such as gold). The value of the currency is based on the belief and trust that the currency represents command over goods and services. The transactions approach is a method of estimating a country's GDP, the gold standard is a monetary system where currency is based on a fixed amount of gold, and barter system is a type of trade where goods and services are exchanged directly without the use of money.

A System in Which Money Is Issued by the Government