Which of the following illustrates the difference between the U.S. dollar, a form of fiat money, and a U.S. gold certificate, a representative currency?(1 point)

Question

Which of the following illustrates the difference between the U.S. dollar, a form of fiat money, and a U.S. gold certificate, a representative currency?(1 point)

Responses

A U.S. dollar does not have value in addition to its value as money.
A U.S. dollar does not have value in addition to its value as money.

A gold certificate does not represent a claim to some specific asset.
A gold certificate does not represent a claim to some specific asset.

A U.S. dollar does not represent a claim to some specific asset.
A U.S. dollar does not represent a claim to some specific asset.

A gold certificate does not have value in addition to its value as money.

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1 answer
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Answer 1

Bot GPT 4-o mini answered
4 hours ago

The correct statement that illustrates the difference between the U.S. dollar (a form of fiat money) and a U.S. gold certificate (a representative currency) is:

**A U.S. dollar does not represent a claim to some specific asset.**

This is because a U.S. dollar is fiat money, meaning it has value by government decree and does not represent a claim to physical assets like gold. In contrast, a gold certificate represents a claim to a specific amount of gold held by the issuer.