The Wide Acceptance of Fiat Money Is Determined By

question 64

Multiple Choice

The wide acceptance of fiat money is determined by:

• A)people's belief that it is worth something.
• B)the amount of precious metal that the government holds to back the money.
• C)the money's market value as a commodity.
• D)the rate of interest,which is the price paid to borrow money.
• E)its ability to function as a unit of account.

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Definitions:

Informal Forms

Unofficial, non-institutional practices, relationships, or structures that operate outside formal systems, playing a significant role in social organization and dynamics.

Formal Forms

Structured, officially recognized or institutionalized patterns, shapes, or arrangements that adhere to established rules or standards.

Moral Panic

A widespread feeling of fear, often irrational, that some evil threatens the well-being of society, typically provoked by media coverage and leading to public calls for action.

Death Penalty

A legal punishment where a person is put to death by the state as a consequence for a crime deemed as particularly severe.