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5. In terms of money's function as a store of value, what is the problem with fiat money? Explain. (10%)

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter22: Money Growth And Inflation

Section: Chapter Questions

Problem 7PA

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5. In terms of money's function as a store of value, what is the problem with fiat money?
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9 An item that is used as money, but which also has value from its use as something other than money is .
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#28.The primary difference between commodity money and fiat money is that a fiat money is a medium of exchange but commodity money is not. b fiat money has intrinsic value but commodity money does not. c commodity money is a medium of exchange but fiat money is not. d commodity money has intrinsic value but fiat money does not.
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