Answered: Fiat money O A. has no intrinsic value.…

Fiat money O A. has no intrinsic value. B. is different from paper money. OC. is not used as a unit of account. O D. is backed by gold. O E. is not legal tender.

ECON MACRO

5th Edition

ISBN:9781337000529

Author:William A. McEachern

Publisher:William A. McEachern

Chapter13: Money And The Financial System

Section: Chapter Questions

Problem 1.4P

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Question

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Fiat money
O A. has no intrinsic value.
O B. is different from paper money.
Oc. is not used as a unit of account.
O D. is backed by gold.
O E. is not legal tender.

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