Question

Currently in the united states, money is backed by:____.

Answer 1

The correct answer is (B) Federal reserve notes in banks

What is Federal reserve notes in banks?

• A Federal Reserve note may be a term to portray the paper request liabilities of the Government Save, commonly referred to as "dollar bills," which circulate within the U.S. as legitimate delicate.
• For viable purposes, the Government Save note is the financial unit of the U.S. economy. The term Government Save note is regularly befuddled with the U.S. dollar, the official unit of account of the U.S.
• Federal Reserve notes were to begin with issued after the creation of the Government Save Framework (FRS) in 1913. Some time recently 1971, each Government Save note issued was sponsored by a legitimately indicated sum of gold held by the U.S.
• Treasury, be that as it may, private citizens were not permitted to recover notes for gold dollars.
• Since these notes held legitimate delicate status and spoken to genuine dollars, they were commonly alluded to as "dollar bills" as they circulated through the economy.

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