Fiat money means
A) only currency counts as money.
B) the money can be converted into gold.
C) the government has decreed that something is money.
D) Italian currency.
E) money's value does not change.
C
You might also like to view...
Which of the following are examples of situations in which the standard model of the consumer may not be realistic?
A) Impulse purchases B) Following fads and fashions instead of one's own preferences C) Addictions or other strong habits in consumption D) all of the above
What is the random walk theory?
What will be an ideal response?
What is meant by the “Federal funds market” and what is the Federal funds rate?
What will be an ideal response?
Risk-seeking behavior:
A. is an aspect of an individual's preferences. B. is irrational. C. is the same for everyone. D. All of these statements are true.