Multiple Choice
In a fiduciary monetary system, the value of the money issued by a government is based on
A) the gold held in that government's vaults.
B) public confidence in that currency's acceptability and predictability of value.
C) the ability to convert it to some valuable commodity.
D) its being made out of some material with a market value equal to a bill's face value.
Correct Answer:
Verified
Correct Answer:
Verified
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