Fiat Money

question 5

Multiple Choice

Fiat money

• A)has no intrinsic value.
• B)is backed by gold.
• C)is a medium of exchange but not a unit of account.
• D)is any close substitute for currency such as checkable deposits.

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Definitions:

Enjoy Doing

The feeling of pleasure or satisfaction experienced when engaging in an activity one likes or finds rewarding.

Make Living

involves earning enough income through work or business to cover personal and family expenses.

Psychology

The scientific study of the human mind and its functions, especially those affecting behavior in a given context.

Focuses

Refers to the central points of interest or activity, or the act of directing attention and resources towards specific goals.