Start studying Chapter 17. Learn vocabulary, terms, and more with flashcards, games, and other study tools.

2012-05-25

Our word of the day is “Fiat Money”.Money has no intrinsic value and B. Paper money that is not a medium of exchange. C. Legal tender that has no intrinsic value. D. Checking accounts and debit cards. E. Credit cards. 2. During periods of hyperinflation, money fails to function as: A a medium of exchange. B a unit of account.

Near money or quasi-money consists of highly liquid assets which are not cash but can easily be converted into cash.. Examples of near money are as follows: Savings accounts; Money market funds; Bank time deposits (certificates of deposit); Government treasury securities (such as T-bills); Bonds near their redemption date; Foreign currencies, especially widely traded ones such as the US dollar Seigniorage / ˈ s eɪ n j ər ɪ dʒ /, also spelled seignorage or seigneurage (from the Old French seigneuriage, "right of the lord (seigneur) to mint money"), is the difference between the value of money and the cost to produce and distribute it.The term can be applied in two ways: Seigniorage derived from specie (metal coins) is a tax added to the total cost of a coin (metal content and 2016-09-17 Fiat money or fiat currency is any money that the government declares as legal tender. Also, this type of money is not backed by a physical commodity such as gold or silver. In other words, fiat money has no intrinsic value.Market forces determine the value of fiat money.. In economics, the term ‘market forces’ refers to the forces of supply and demand.

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E. Credit cards. 2. During periods of hyperinflation, money fails to function as: A a medium of exchange. B a unit of account. C a store of value.

B a unit of account. C a store of value. D fiat money. E commodity money.
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read more 2021-02-02 Please take a look at my book Life After The State - http://www.amazon.co.uk/Life-After-State-Dominic-Frisby/dp/1908717890Here is the sister video to this - A fiat currency is a national currency that is not linked to the value of a solid commodity such as gold, silver or platinum. It therefore follows that the value of fiat money is largely based on the credibility of the specific country’s central bank, which issues the currency. The difference between fiat money and […] Their last resort is to replace their fiat money not with a bitcoin standard but with their gold reserves.

Only then can their governments pay their essential bills in a post-fiat world. It is difficult to justify the existence of cryptocurrencies following the demise of fiat, except, perhaps, in the form of central bank digital currencies fully exchangeable into gold coin.
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