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Economics
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Also known as 'legal tender,' which type of money is required by all people and firms within the U.S. to be accepted as a means of payment?
 
Commodity money
Fiat money
Fiduciary money

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Related questions

When economists say that money serves as a unit of value they mean that it is:

A. a way to keep wealth in a readily spendable form for future use.

B.a means of payment.

C. a monetary unit for measuring and comparing the relative values of goods.

D. declared as legal tender by the government

Which of the following is the best definition of money?

a. Gold.

b. An obligation between the parties to a transaction.

c. Any medium of exchange.

d. Any commodity or token that is generally accepted as a means of payment.

 

 

When economists say that money serves as a unit of account, they mean that it is:

A) away to keep wealth in a readily spendable form for future use.
B) a means of payment.
C) a monetary unit for measuring and comparing the relative values of goods.
D) declared as legal tender.

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