Fiat Money

​Announcements

​Tests are grades

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Group currency assignments are due tomorrow at the start of class​

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TODAY'S AGENDA​

Quick Lecture on Quizizz

​Homework Assignment from book

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​2:21-3:25

Multiple Choice

What do we call money that has another useful purpose?

• fiat money

• commodity money

• debt
• securities

Multiple Choice

The difference between representative money and fiat money is that

• representative money is worth more than fiat money.

• fiat money is counted in coins; representative money is counted in paper dollars.

• fiat money is more durable than representative money.

• representative money is backed by silver or gold, ; fiat money is not.

Multiple Choice

Currently, what is U.S. money backed by?

• Frankincense
• Gold
• Silver
• Trust that it is worth something

​HOMEWORK ASSIGNMENT

​1) Read "Sources of Money's Value" section in textbook on pages 213-215​

2) Answer Questions 1, 4, and 5 on page 215​

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Worth 10 points and due at the start of class tomorrow , 1:55 PM

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If you still have to do the test Friday, use this time to do that​

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Missing a lot of worksheets from last week, if you have them turn them in​