Fiat Money Has

question 65

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)little to no intrinsic value and is authorized by the central bank or governmental body.
• C)value, because it can be redeemed for gold by the central bank.
• D)a great intrinsic value that is independent of its use as money.
• E)is less useful than commodity money.

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