Question

Fiat money: Group of answer choices has advantages over commodity-backed money. is currency from Italy.can include currency backed by gold but not by silver. is currency backed by the gold in Fort Knox.

Answer 1

The correct answer is A) has advantages over commodity-backed money.

Fiat money has advantages over commodity-backed money.

There was a time when money in the United States was backed by gold. Not any more. Fiat money, as the US dollar is backed by the US government, This is the case in other countries, For instance, the European Union's currency, the Euro, is also fiat money. Governments issue fiat money through their central banks and can exert certain kinds of control on it.