Fiat Money Has

question 9

Multiple Choice

Fiat money has

• A) little to no intrinsic value but is backed by the quantity of gold held by the central bank.
• B) great intrinsic value because it can be exchanged for gold at the central bank.
• C) little to no intrinsic value and is authorized by the central bank or governmental body.
• D) great intrinsic value that is independent of its use as money.

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