Fiat money has

Question

Fiat money has

BlackTom AI · Accepted Answer

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 bank backs it and guarantees its acceptance for payments. The monetary value is largely a social and legal construct rather than a physical commodity value.

Option 2: 'little to no intrinsic value but is backed by the quantity of gold held by the central bank.' This describes a gold standard or pegged system, not fiat money. Fiat money is not backed by a reserve of gold or other tangible assets; its value does not depend on a metal reserve.

Option 3: 'value, because it can be redeemed for gold by the central bank.' This would imply a convertibility feature into gold, which is characteristic of a gold standard or some historic fixed-exchange systems, not modern fiat currencies that are not redeemable for gold.

Option 4: 'a great intrinsic value that is independent of its use as money.' Fiat money typically has little intrinsic value; its value arises from legal tender status and public confidence, not from intrinsic worth.

In sum, the correct characterization of fiat money is that it has little intrinsic value and is authorized by a government or central authority to be used as money, with its value derived from trust and legal framework rather than physical assets.

ECON 2002.01 AU2025 (21333) Final Exam- Requires Respondus LockDown Browser

Fiat money has

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类似问题

Fiat money has value because ______. Select all that apply.

位置16的问题 Fiat currency is backed by a physical commodity like gold or silver.TrueFalse

Part 1Which of the following is a disadvantage of using fiat money LOADING... ?Part 2 A. Public authorities may be tempted to produce too much of it B. Fiat money is not easily divisible or suitable for small purchases C. Fiat money is not portable or widely accepted

Part 1Which of the following is a disadvantage of using fiat money LOADING... ?Part 2 A. Fiat money is not portable or widely accepted B. Fiat money is not easily divisible or suitable for small purchases C. Public authorities may be tempted to produce too much of it

The word "fiat" is

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

93. Which of the following does not explain what backs the money supply in the United States? A. It is backed by gold. B. It is widely accepted in transactions. C. It is designated "legal tender" by the federal government. D. It is relatively scarce.

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ECON 2002.01 AU2025 (21333) Final Exam- Requires Respondus LockDown Browser

Fiat money has

查看解析

登录即可查看完整答案

类似问题

Fiat money has value because ______. Select all that apply.

位置16的问题 Fiat currency is backed by a physical commodity like gold or silver.TrueFalse

Part 1Which of the following is a disadvantage of using fiat money LOADING... ​?Part 2 A. Public authorities may be tempted to produce too much of it B. Fiat money is not easily divisible or suitable for small purchases C. Fiat money is not portable or widely accepted

Part 1Which of the following is a disadvantage of using fiat money LOADING... ​?Part 2 A. Fiat money is not portable or widely accepted B. Fiat money is not easily divisible or suitable for small purchases C. Public authorities may be tempted to produce too much of it

The word "fiat" is

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

93. Which of the following does not explain what backs the money supply in the United States? A. It is backed by gold. B. It is widely accepted in transactions. C. It is designated "legal tender" by the federal government. D. It is relatively scarce.

更多留学生实用工具

希望你的学习变得更简单

Part 1Which of the following is a disadvantage of using fiat money LOADING... ?Part 2 A. Public authorities may be tempted to produce too much of it B. Fiat money is not easily divisible or suitable for small purchases C. Fiat money is not portable or widely accepted

Part 1Which of the following is a disadvantage of using fiat money LOADING... ?Part 2 A. Fiat money is not portable or widely accepted B. Fiat money is not easily divisible or suitable for small purchases C. Public authorities may be tempted to produce too much of it