Which of the following are not the common characteristics of Representative money and Fiat money? There could be more than one answer. Group of answer choices The money is backed by the government There is little or no intrinsic value The risk of inflation is high Limited supply of money
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- Representative money is backed by a physical commodity (like gold or silver) and can be exchanged for that commodity. - Fiat money, on the other hand, has no intrinsic value and is not backed by any physical commodity; its value comes from government decree. Show more…
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