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:

Mass Extinction

A significant and rapid decrease in the diversity and abundance of life on Earth, often due to catastrophic events.

Natural Process

A sequence of events or phenomena that occurs in the natural world without human intervention.

Extinctions

The permanent and irreversible loss of species from Earth, often due to environmental changes, natural disasters, or human activities.

Desertification

The conversion of lush, fertile ground into desolate deserts, commonly triggered by lack of rain, cutting down forests, or faulty agricultural techniques.