Question
Properties of Money Quick Check
6 of 66 of 6 Items
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.
Answers
GPT-4o mini
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.
**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.