Fiat money is Select one: a.money backed by gold or some other precious metal. b.commodity money like salt. c.valuable only because some authority decrees it to be. d.the name given to Italian lira when it is falling in value.
Fiat money is Select one: a.money backed by gold or some other precious metal. b.commodity money like salt. c.valuable only because some authority decrees it to be. d.the name given to Italian lira when it is falling in value.
Chapter14: Money And The Economy
Section: Chapter Questions
Problem 6WNG
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Fiat money is
Select one:
a.money backed by gold or some other precious metal.
b.commodity money like salt.
c.valuable only because some authority decrees it to be.
d.the name given to Italian lira when it is falling in value.
One of the impacts of inflation is
Select one:
a.the real value of money falls.
b.wealth is transferred from borrowers to savers.
c.an increase in speculative holdings of cash.
d.higher real interest rates.
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