Fiat money has Select one: a. value, because it can be redeemed for gold by the central bank. b. little to no intrinsic value but is backed by the quantity of gold held by the central bank. C. a great intrinsic value that is independent of its use as money. d. little to no intrinsic value and is authorized by the central bank or governmental body.

Fiat money has Select one: a. value, because it can be redeemed for gold by the central bank. b. little to no intrinsic value but is backed by the quantity of gold held by the central bank. C. a great intrinsic value that is independent of its use as money. d. little to no intrinsic value and is authorized by the central bank or governmental body.

ECON MACRO

5th Edition

ISBN:9781337000529

Author:William A. McEachern

Publisher:William A. McEachern

Chapter13: Money And The Financial System

Section: Chapter Questions

Problem 1.5P

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