Types of Money

_____________ is money by government decree, has no alternative value

• Gold standard

• Specie

• Barter

• Fiat money

Which type of money is created by government decree and has no intrinsic value?

• Commodity money

• Fiat money

• Representative money

• Cryptocurrency

What type of money is backed by a physical commodity such as gold or silver?

• Fiat money

• Digital currency

• Commodity money

• Credit money

Which type of money is used in a barter system?

• Fiat money

• Cryptocurrency

• Commodity money

• None

What is the term for money that is accepted by law but not backed by a physical commodity?

• Fiat money

• Commodity money

• Representative money

• Barter

Which type of money is represented by a physical token or certificate that can be exchanged for a commodity?

• Fiat money

• Representative money

• Digital currency

• Credit money

What type of money is primarily used in digital transactions and is not physical?

• Fiat money

• Commodity money

• Cryptocurrency

• Representative money

Which type of money derives its value from the trust and acceptance of its users rather than a physical commodity?

• Fiat money

• Commodity money

• Representative money

• Cryptocurrency

What is the term for money that is issued by a central authority and used as legal tender?

• Fiat money

• Commodity money

• Cryptocurrency

• Barter

Which type of money is considered legal tender and is used for everyday transactions?

• Fiat money

• Commodity money

• Cryptocurrency

• Representative money