0
Add your answer:
Earn +20 pts
What is the fiat system?
the fiat money is money declared by a government. the fundamental flaw in the fiat money system can be summed up as human nature. the main reason that the masses ignore the inevitable failure of fiat money system
Which of the following most accurartely explains why fiat money has value?
Fiat money has value because the government declares that it has value.
What condition is necessary for fiat money system to work?
The government must control the money payment.
What gives fiat money its value as a medium of exchange?
Laws set by the government give Fiat money its value as a medium of exchange. Unlike traditional money or currency, it has no good which act as a medium to back it up.
What form of money has value only because the government says it does?
representative money (A+) -Emmy aka Hello Kitty Fiat Money (A+) -Hailey
What is the meaning behind the term Fiat money?
Fiat money is the term used to describe money that has it's value determined by the law or government. This means that most currencies are fiat money as most currencies are government issued.
What is the fiat system?
the fiat money is money declared by a government. the fundamental flaw in the fiat money system can be summed up as human nature. the main reason that the masses ignore the inevitable failure of fiat money system
What is the definition of Fiat money?
"Fiat money, is money that is not backed by something with vaule. US money is backed by commodites like silver and gold. Fiat money is money declared by a government to be legal, eventhough it has no value."
Which of the following most accurartely explains why fiat money has value?
Fiat money has value because the government declares that it has value.
What condition is necessary for fiat money system to work?
The government must control the money payment.
Why does Fiat money differ from commodity money?
Fiat money differs from commodity money because it is a more convenient form of money. It is easier to carry around paper money that it is to carry around gold or silver or other commodities. Fiat money is a promise to pay in the future while commodity money derives its value from the commodity of which it is made. Fiat money has value because the government declares that it has value. Fiat money only has value as a medium of exchange.
Fiat money has value because: (apex)?
it is assigned value by the government (apex)
What was the main function of the National Bank?
The purpose of the First National Bank was to handle the financial needs of the United States, as well as to provide financial stability, establish credit and to resolve the issue of fiat money issued by the Continental Congress. Fiat Money: anything declared by the government to be legal tender examples: United States Dollar, British Pound, Euro etc.
What gives fiat money its value as a medium of exchange?
Laws set by the government give Fiat money its value as a medium of exchange. Unlike traditional money or currency, it has no good which act as a medium to back it up.
What money has little or no intrinsic value but has vale mandated by a government and backed by the law and power of the states?
fiat money.
What is paper money issued by the government called?
Fiat money. This is money that has no tangible value. An alternative is gold, which in itself has tangible value.
How much is a Japanese government issued Philippine fiat peso worth?
1942 issue are worth a few dollars American.
