Money that has no value other than as money is called ______ money.
A) fiat
B) intrinsic
C) commodity
D) government

Question

Quizplus · Accepted Answer

Fiat money is defined as money that has no intrinsic value and is only accepted by virtue of government decree or order. It is not backed by a physical commodity, such as gold or silver, but instead gains its value based on the stability of the issuing government and the demand for the currency. Commodity money is backed by a physical commodity, while intrinsic money has value beyond its use as money. Government money is a broad term that includes both fiat and intrinsic money, as well as money issued by governments that is backed by commodities.

Money That Has No Value Other Than as Money Is