#27. Identify two examples of commodity money. #28. The U.S. dollar is an example of fiat money. What is fiat money? #29. Why can fiat money be successfully used as a currency despite the fact that it has not intrinsic value backing it up?

#27. Identify two examples of commodity money. #28. The U.S. dollar is an example of fiat money. What is fiat money? #29. Why can fiat money be successfully used as a currency despite the fact that it has not intrinsic value backing it up?

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter14: Money And Banking

Section: Chapter Questions

Problem 2AA

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Question

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27. Identify two examples of commodity money.
28. The U.S. dollar is an example of fiat money. What is fiat money?
29. Why can fiat money be successfully used as a currency despite the fact that it has no intrinsic value
backing it up?
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