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Which of the following statements accurately describes the relationship between commodity money and flat money?
Commodity money has value in itself while flat money has value only because it is given value
Why does flat money have value?
Because governments say it does.
Why does flat money have no value?
Fiat money has only a single use as a medium of exchange
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.
What is the value of paper money than the value of paper itself?
Money is spent for making paper, your opinion is invalid.
How do you find out how much money is on a money order?
The monetary value of a money order will be printed on the money order itself.
What explains why Fiat money has no value in itself?
fiat money has only a single use as a medium of exchange
Which statements accurately describes the relationship between commodity money and fiat money?
Commodity money has value in itself while fiat money has value only because it is given value
What accurately explains why fiat money has no value in itself?
Fiat money has only a single use as a medium of exchange.
What most accurately explains why fiat money has value in itself?
Fiat money has only a single use as a medium of exchange.
Which of the following most accuratelyexplains why fait money has no value in itself?
fiat money has only a single use as a medium of exchange
What most accurately explains why fiat money has no value in itself?
Fiat money has only a single use as a medium of exchange.
