Money Whose Value Derives Entirely from Its Official Status as a Means

question 65

Multiple Choice

Money whose value derives entirely from its official status as a means of exchange is known as:

• A) commodity money.
• B) commodity-backed money.
• C) fiat money.
• D) bank reserves.

---

Definitions:

Inspection

The first part of a physical examination; close observation.

Drug Enforcement Agency (DEA)

A United States federal agency responsible for enforcing the controlled substances laws and regulations, aiming to combat drug trafficking and abuse.

Fire Department

An organization responsible for providing firefighting services as well as rescuing people from dangerous situations such as fires, accidents, and disasters.

Insurance Companies

Organizations that provide financial protection and compensation for losses or damages in exchange for premium payments.