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Nataliya [291]
3 years ago
5

What condition is necessary for a fiat money system to work? customers with checking accounts cannot earn interest on those acco

unts. money owed must be paid on time. the government must control the money supply. banks must hold sufficient gold to cover any paper money they give out?
Business
2 answers:
pashok25 [27]3 years ago
7 0
<span>What condition is necessary for a fiat money system to work? The government must control the money supply. Fiat money is not physical money like bills or coins, fiat money solely exists because if supply and demand of a good or service. This is a currency that the government has declared legal but it is not backed by any physical commodity. Due to that, the government has to be in control of the money supply for the fiat system to work. </span>
OleMash [197]3 years ago
3 0

Answer:

The government must control the money supply.

Explanation:

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Powell Company began the Year 2 accounting period with $20,000 cash, $60,400 inventory, $48,600 common stock, and $31,800 retain
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Explanation:

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3 0
3 years ago
If contracting a vendor for multiple locations, particularly over a wide geographic area, the most important factor would be
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5 0
3 years ago
Sam Robinson borrowed $11,000 from a friend and promised to pay the loan in 10 equal annual installments beginning one year from
Y_Kistochka [10]

Answer:

P = $1790.01

Explanation:

Given data:

Borrowed money = $11,000

Number of installment = 10

Annual rate of interest = 10%

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r - rate per period

n - number of periods

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4 0
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