2. Which of the following best describes fiat money! (A) Money that is backed by a commodity such as gold (B) Money that is backed by the government that issued it (C) U.S. dollars held in foreign financial institutions (D) Money that is held in demand deposits that is not included in the M1 or M2 money supplies

2. Which of the following best describes fiat money! (A) Money that is backed by a commodity such as gold (B) Money that is backed by the government that issued it (C) U.S. dollars held in foreign financial institutions (D) Money that is held in demand deposits that is not included in the M1 or M2 money supplies

Brief Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781337091985

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter11: The Monetary System

Section: Chapter Questions

Problem 1PA

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