Today, Most Governments Issue Money That Is Backed by Nothing

question 16

Multiple Choice

Today, most governments issue money that is backed by nothing more than a promise to honor it for all debts public and private. Such currency is called ________.

• A) gold standard currency
• B) fiat money
• C) warehouse cash
• D) deposit receipt

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Definitions:

Defense of Marriage Act

The Defense of Marriage Act was a U.S. federal law enacted in 1996 that defined marriage for federal purposes as the union of one man and one woman, and allowed states to refuse to recognize same-sex marriages granted under the laws of other states.

Same-Sex Couples

Romantic or marital partnerships between two people of the same gender.

Civil Union Law

Legislation that provides legal recognition to relationships of couples, often same-sex, granting them similar rights and benefits to those of marriage.

Civil Rights Amendments

Refers to the 13th, 14th, and 15th amendments to the U.S. Constitution, which abolished slavery, granted citizenship rights, and prohibited voting discrimination based on race, respectively.