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Is the type of money used in the US commodity money representative money or fiat money?
puppys
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 these is a suitable substitute used for trade barter fiat money coins and paper money?
Fiat money is a suitable substitute used for trade barter.
What form of money is used as a substitute for trade?
fiat money
What is Fiat money used for?
caca xD
Does the US use Fiat money?
No, the United States does not use fiat money. The value of the United States Dollar is determined by free market capitalism. Some countries, such as the Bahamas, declare their currency to be equal to the US Dollar, and therefore use fiat money.
Ask us of the following most accurately explains why fiat money differs from commodity money?
Fiat money has value bc the gov. declares that it has value.
What is Fiat money?
A fiat money is a money which is not backed by gold or some other commodity. Hence it's value can change over time (inflation). The US Dollar and EURO are current examples of fiat moneys.
What is a form of fiat money that is commonly used today...?
. Digital money
What is a form of fiat money that is a commonly used today?
. Digital money
What is a form of fiat money that is commonly used today?
. Digital money
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.
