Question

In a fiduciary monetary system, the value of the money issued by a government is based on

A) the gold held in that governmentʹs vaults.

B) public confidence in that currencyʹs acceptability and predictability of value.

C) the ability to convert it to some asset of value, like silver.

D) its being made out of some material with a market value equal to a billʹs face value.

Answer

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