« previous next »

Author Question: What is fiat money? Why is fiat money important in the United States ... (Read 56 times)

stevenposner

  • Hero Member
  • *****
  • Posts: 608
on: Jun 30, 2018
What is fiat money? Why is fiat money important in the United States today?

Question 2

The economic theory that suggested an alternative to the rising unemployment and inflation that the static Phillips curve analysis could not explain was the:
 a. new classical economic theory.
  b. monetarist economic theory.
  c. new Keynesian economic theory.
  d. classical economic theory.
  e. traditional Keynesian economic theory.


mcarey591

  • Sr. Member
  • ****
  • Posts: 365
Reply #1 on: Jun 30, 2018
Answer to Question 1

Fiat (from the Latin for let it be done) money is money, which is decreed to be acceptable as payment, regardless of backing with gold, silver, or other precious metals. Money in circulation in the United States (and many other nations) today is almost entirely fiat money. Fiat money has value as long as people are willing to accept it as payment for goods and services.

Answer to Question 2

a


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

One way to reduce acid reflux is to lose two or three pounds. Most people lose weight in the belly area first when they increase exercise, meaning that heartburn can be reduced quickly by this method.

Did you know?

More than 50% of American adults have oral herpes, which is commonly known as "cold sores" or "fever blisters." The herpes virus can be active on the skin surface without showing any signs or causing any symptoms.

Did you know?

Chronic necrotizing aspergillosis has a slowly progressive process that, unlike invasive aspergillosis, does not spread to other organ systems or the blood vessels. It most often affects middle-aged and elderly individuals, spreading to surrounding tissue in the lungs. The disease often does not respond to conventionally successful treatments, and requires individualized therapies in order to keep it from becoming life-threatening.

Did you know?

The word drug comes from the Dutch word droog (meaning "dry"). For centuries, most drugs came from dried plants, hence the name.

Did you know?

Bacteria have been found alive in a lake buried one half mile under ice in Antarctica.

Median Age at First Marriage in the United States Median Age at First Marriage in the United States
How Safe Is Your State? Violent Crime in the United States How Safe Is Your State? Violent Crime in the United States
Power in the United States: The Model Proposed by C. Wright Mills Power in the United States: The Model Proposed by C. Wright Mills
Educational Achievement in the United States Educational Achievement in the United States
Proteins play an important role in keeping your skin healthy and your nails strong Proteins play an important role in keeping your skin healthy and your nails strong
GDP per Capita in the United States, 1870–2009 (Ratio Scale) GDP per Capita in the United States, 1870–2009 (Ratio Scale)
Video: Ventilation - phases and driving forces

For a complete list of videos, visit our video library