Author Question: What is a fiduciary monetary system? What will be an ideal ... (Read 59 times)

magmichele12 · **on:** Jun 30, 2018

What is a fiduciary monetary system?

What will be an ideal response?

Question 2

If a country is growing at an annual growth rate of 5, what will be its GDP after 5 years?

A) 5 times the current GDP B) 1.28 times the current GDP
C) 3.21 times the current GDP D) 1.8 times the current GDP

meow1234 · **Reply #1 on:** Jun 30, 2018

Answer to Question 1

A fiduciary monetary system is a system in which currency is issued by the government and its value is based on the public's confidence that the currency represents command over goods and services. The currency used in the system has no intrinsic value.

Answer to Question 2

B