Answered: Fiat money isa. a type of money with…

Fiat money isa. a type of money with intrinsic value.b. a type of money set by government decree.c. any asset used as the medium of exchange.d. any asset used as the unit of account.

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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Question

Fiat money is
a. a type of money with intrinsic value.
b. a type of money set by government decree.
c. any asset used as the medium of exchange.
d. any asset used as the unit of account.

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