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When an object has an inherent value and is used as money that is called?
When an object has inherent value and is used as money, it is known as commodity money. This type of money has value independent of its use as currency.
What is the current value of a future sum of money called?
present value
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.
The money was called mickey mouse money because it has no value.?
It has no value because it is not printed it their country it was printed in the Philippines
Why is money called currency?
Because it stores value
What is it called when the value of money goes down?
inflation
What is it called when the value of money drops?
That's simple! Inflation. Money has less value, and to compensate it, product prices have to be higher.
Objects that have value in themselves as well as their value by means of exchange are called?
Fiat money
What are objects called that have value in and of themselves as well as value as a means of exchange?
commodity money
What is norweign money called?
Norwegian money is called Norweigan Krone. it's value is somewhere inbetween o.1 and 0.2 USD.
What is it called when money loses its value and business raise prices?
inflation
Which term is defined as the value of a current sum of money at a specified date in the future?
It is called the 'future value' .
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