Asked by Laura Resendez on May 30, 2024
Verified
The U.S.dollar is a good example of fiat money.
Fiat Money
Currency without intrinsic value that is established as legal tender by government regulation.
- Understand the principle and effects of fiat currency in contemporary economic systems.
Verified Answer
WB
Writers BoardMay 30, 2024
Final Answer :
True
Explanation :
The U.S. dollar is not backed by a physical commodity, such as gold, and its value is derived from government regulation and the trust of its users, making it a fiat currency.
Learning Objectives
- Understand the principle and effects of fiat currency in contemporary economic systems.