Questions
ECON 2002.01 AU2025 (21333) Final Exam- Requires Respondus LockDown Browser
Single choice
Fiat money has
Options
A.little to no intrinsic value and is authorized by the central bank or governmental body.
B.little to no intrinsic value but is backed by the quantity of gold held by the central bank.
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.
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Question: Fiat money has
Option 1: 'little to no intrinsic value and is authorized by the central bank or governmental body.' This statement accurately captures the essence of fiat money: its value does not come from intrinsic material worth, but from the trust that the government or central ban......Login to view full explanationLog in for full answers
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