________ is nonconvertible paper money backed only by faith that the monetary authorities will not issue more money.

Question

Quizplus · Accepted Answer

Fiat money is paper currency that is not backed by a physical commodity like gold or silver, but rather by the government that issues it. Its value is based on the trust that people have in the government's ability to maintain its value and avoid excessive inflation.

________ Is Nonconvertible Paper Money Backed Only by Faith That