The value of Fiat currency is a nation's credit, and that is because it is used to clear off debt by the citizens of a nation.
Fiat currency is, thus, a government issued-currency that is not supported by physical commodity, such physical commodity can be gold or silver.
The value of fiat money then is gotten from the relationship between supply and demand and the stability of government issuing it instead of the worth of a commodity that backs it.
For example, the United states dollar, euro and many world currencies are all fiat currency.
Government, historically, mint coins from valuable physical commodity and print paper money that could be redeemed for a particular amount of physical commodity.
In the case of inflation or hyperinflation, fiat money tends to loose value and this is because it is not connected to physical reserves such as gold or silver. if people lose faith in the country's currency, it tends to lose its value.
This is entirely different from currency that is backed by gold mainly because the demands for products made of gold such as jewelries, computers, electronic devices and aerospace vehicles are very high.
Fiat currency is issued by most government as legal tender for the purpose of debt repayment
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KEYWORDS:
- fiat money
- gold or silver
- currency
- government
- debt
- physical commodity
- legal tender
Answer:
B. That clause grants the government the right to create laws that enable it to carry out its duties.
Explanation:
The "Necessary and Proper Clause," was officially adopted in Article 1 Section 8 of the Constitution of the United States of America. It is popularly known as the elastic clause because it extends the power of Congress. It gave power of making laws necessary and appropriate for the execution of the aforementioned powers in the Constitution by the Government of the United States.
Answer:
A great smallpox epidemic which destroyed the Native Americans
Answer:
They are :
- Michelangelo
- Rafello Sanzio
- Donato Bramante
Explanation:
These famous Renaissance Artists were commissioned by the pope Julius 2 to perform/carry out several works of art for the church and himself.
Michelangelo was commissioned by the pope to carry out the decoration/painting of the ceiling f the Sistine chapel. although Michelangelo was a sculpture as at the time he judiciously painted/decorated the ceiling of Sistine Chapel
Donato Bramante was commissioned by the pope for the reconstruction of the church ( st peter's Basilica ) in a modern building while The pope commissioned Rafello Sanzio to make a portrait painting of him
Economic sanctions and military force