Question

A fiduciary monetary system is a. dependent on barter for exchanges of goods and services. b. dependent on the public's faith to accept the currency. c. one which cannot have any inflation. d. fully backed by gold.

Answer 1

Fiduciary money system is dependent on the public's faith to accept the currency.

What is fiduciary monetary system?

Fiduciary monetary system refers to money, coins or bank notes that is very available in the economy for usage .

Fiduciary money is normally accepted any where base on on what the bank issues or pass out.

Therefore, Fiduciary money system is dependent on the public's faith to accept the currency.

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