The $20 bill in your pocket today is BEST described as:Choose one answer from the options below.commodity moneynear-moneyfiat moneycommodity-backed money
Question
Solution 1
The $20 bill in your pocket today is BEST described as fiat money.
Here's why:
- Commodity money is a type of money whose value comes from a commodity of which it is made. Commodities such as gold or silver have intrinsic value. The $20 bill is not made of any such commodity, so it's not commodi Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
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