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Daniel lives in Fiji. He learns that the Fijian dollar is an example of fiat money. This means that ...

hellokidbye

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Daniel lives in Fiji. He learns that the Fijian dollar is an example of fiat money. This means that ...

Daniel lives in Fiji. He learns that the Fijian dollar is an example of fiat money. This means that the Fijian dollar ________.

▸ is not backed by a physical commodity like gold or silver

▸ can be exchanged at a fixed rate for a physical commodity like gold or silver

▸ fluctuates in value against other countries' currencies

▸ is worth exactly 1 U.S. dollar

Textbook

Macroeconomics

Macroeconomics

Edition: 3^rd

Authors: Acemoglu, Laibson, List

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