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    Money Banking and Financial Markets
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    Exam 3: What Is Money
  5. Question
    Paper Currency That Has Been Declared Legal Tender but Is
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Paper Currency That Has Been Declared Legal Tender but Is

Question 50

Question 50

Multiple Choice

Paper currency that has been declared legal tender but is not convertible into coins or precious metals is called ________ money.


A) commodity
B) fiat
C) electronic
D) funny

Correct Answer:

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