Fiat money is _________. a. comprised only of demand deposits. b. money because the government asserts that it is. c. Money which is “resting” in a commercial bank vault. d. Money which can be redeemed for an intrinsically valuable commodity such as gold.

Fiat money is _________. a. comprised only of demand deposits. b. money because the government asserts that it is. c. Money which is “resting” in a commercial bank vault. d. Money which can be redeemed for an intrinsically valuable commodity such as gold.

ECON MACRO

5th Edition

ISBN:9781337000529

Author:William A. McEachern

Publisher:William A. McEachern

Chapter13: Money And The Financial System

Section: Chapter Questions

Problem 1.5P

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23. Fiat money is _________.

a. comprised only of demand deposits.

b. money because the government asserts that it is.

c. Money which is “resting” in a commercial bank vault.

d. Money which can be redeemed for an intrinsically valuable commodity such as gold.

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