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Question
Which of the following answers applies to a form of fiat money and not a form of representative currency?(1 point)
Responses
Does not represent a claim to some specific asset.
Does not represent a claim to some specific asset.
Can't be controlled by the government.
Can't be controlled by the government.
Is not widely accepted as a method of payment because it can be redeemed everywhere.
Is not widely accepted as a method of payment because it can be redeemed everywhere.
Does not derive its value from government regulation.
1 answer
The correct response that applies to a form of fiat money and not a form of representative currency is:
Does not represent a claim to some specific asset.
Fiat money has value by government decree and does not have intrinsic value or a backing of a physical asset, such as gold or silver, which is often the case with representative currency.
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