When an Item Is Used as Money, Is Not Made

question 90

Multiple Choice

When an item is used as money, is not made out of material that has value, but simply has value because people believe it has value, then the money is referred to as:

• A) fiat money.
• B) commodity money.
• C) ornamental money.
• D) reserve money.

---

Definitions:

Presidential Power

Refers to the executive powers held by the President of the United States, as defined by the Constitution, including making treaties, appointing federal judges, and acting as commander-in-chief of the armed forces.

Executive Office

A sector of government responsible for implementing laws and administering public policy, usually headed by a president or prime minister.

President (EOP)

The head of the Executive Office of the President, responsible for supporting the President of the United States in carrying out executive functions.