Which of the Following Is Not a Characteristic of Fiat

question 133

Multiple Choice

Which of the following is not a characteristic of fiat money?

• A) It is generally acceptable as a medium of exchange.
• B) It provides a way to store wealth over time.
• C) It serves as a unit of account.
• D) It changes in value over time as the amount of fiat money changes.
• E) It is always backed by something of high intrinsic value.

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Definitions:

Confidence Interval

A swath of values, taken from statistical analyses of a sample, anticipated to hold within it the value of a not-yet-known population trait.

Standard Error

The standard deviation of the sampling distribution of a statistic, typically the mean.

Mean

The average value of a set of numbers, calculated by dividing the sum of all values by the number of values.

Confidence Interval

A range of values derived from sample data that is likely to contain the value of an unknown population parameter.