What is fiat money? Multiple Choice any form of money that can be legally exchanged into a fixed amount of an underlying commodity. money created by rule. money used for the exchange of large commodities. money created by discretion.
Added by Nicholas D.
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Step 1: Fiat money is money that is created by rule, meaning it is issued by a government or central authority and is not backed by a physical commodity like gold or silver. Show more…
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