The U.S. dollar is an example of fiat money because
A) it is the strongest currency in the world.
B) it is the most widely used currency in international trade.
C) it is backed by a large reserve of gold and silver.
D) by law, it is decreed as money.
Correct Answer:
Verified
Q7: Money is
A) the same as income.
B) anything
Q8: When you keep your savings in a
Q9: The main disadvantage of using money as
Q10: Electro City, a retailer of electronics, has
Q11: Any transaction that involves exchanging one good
Q13: A currency that is not backed by
Q14: Veronica received a federal income tax refund
Q15: The development of money as a medium
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Q17: Which of the following factors causes the
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