Question 12 Fiat money has value, because it can be redeemed for gold by the central bank. little to no intrinsic value and is authorized by the central bank or governmental body. little to no intrinsic value but is backed by the quantity of gold held by the central bank. a great intrinsic value that is independent of its use as money. 2 pts
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Fiat money is a type of currency that is not backed by a physical commodity, such as gold or silver, but rather by the government that issues it. Its value is derived from the government's decree that it is legal tender. Show more…
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