Fiat Money Has Value Because It

question 144

Multiple Choice

Fiat money has value because it

• A)is backed by gold.
• B)can be used to buy goods and services.
• C)can be exchanged for precious metals at a fixed price.
• D)can be divided into smaller units.
• E)All of the above are correct.

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Definitions:

Positive Traits

Characteristics or attributes that are seen as beneficial, contributing to the positive aspects of an individual's personality and behavior.

Illusory Correlation

A cognitive bias in which people perceive a relationship between two variables even when no such relationship exists.

Insecure Loud Men

Males who exhibit loudness and outward bravado as a means to mask feelings of self-doubt and insecurity.

Illusory Correlation

The phenomenon of perceiving a relationship between variables even when no such relationship exists.