'Fiat Money

question 85

Multiple Choice

'Fiat money':

• A)has no or very little value except as money.
• B)is rarely used in modern economies.
• C)functions well only if it can be redeemed for gold or other precious metals.
• D)serves well as a medium of exchange, but not as a store of value.

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Definitions:

Federal Government

The national government of the United States, formed by the Constitution, which divides power between the executive, legislative, and judicial branches.

Bankrupt

A legal status for individuals or entities that cannot repay the debts they owe to creditors, leading to legal processes to address these outstanding debts.

Alien and Sedition Acts

A series of laws passed in 1798 that permitted the deportation of foreigners deemed dangerous and criminalized making false statements against the federal government.

Critics

Individuals who evaluate or analyze works in various fields such as literature, art, and food, often providing opinions or insights.