Ask Question
BusinessBusiness
2 April, 06:21

The difference between representative money and fiat money is that?

+1
Answers (1)
  1. 2 April, 06:53
    0
    Great question! Fiat money deries it's value from law or regulation. However representative money derives its value either from a claim on a commodity (gold for example). However sometimes representative money means it has value higher than what it is made of, ie if you melt it down it is worth less than before it is melted down. In this sense fiat money is a type of representative money
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “The difference between representative money and fiat money is that? ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
When only certain EOC team members or organizations are activated to monitor a credible threat, which Activation Level has been implemented? A. Level 2 - Enhanced Steady-State. B. Level 4 - No EOC is required. C.
Answers (1)
Torres Travel's stockholders' equity at the beginning of March 2022 was $200,000. During the month, the company earned net income of $50,000 and paid dividends of $10,000. At the end of March 2022, what is the amount of stockholders' equity?
Answers (1)
Closing Entries with Net Income Assume that the entry closing total revenues of $3,190,000 and total expenses of $2,350,000 has been made for the year ending December 31.
Answers (1)
Through fraudulent means, fred induces gail to sign a contract to build resort cabins on land that fred does not own. gail performs, but fred does not pay. when gail learns the truth, she may
Answers (1)
Import auto company held a 4-day training program for 20 employees. all employees were paid their regular wages for the time they were released from their regular work. these wages totaled $5,897.64 for the group.
Answers (1)
New Questions in Business
4. Trade policies Tariffs and quotas do which of the following? Benefit domestic producers of the protected good and harm domestic consumers of the protected good Benefit foreign producers of the protected good and harm domestic producers of the
Answers (1)
How did whirlpool use capabilities of text analytics to better understand their customers and improve product offerings?
Answers (1)
How did the Once-ler encourage his target market to learn more about the thneeds?
Answers (1)
Preparing a Budgeted Income Statement Oliver Company provided the following information for the coming year: Units produced and sold 160,000 Cost of goods sold per unit $6.30 Selling price $11 Variable selling and administrative expenses per unit $1.
Answers (1)
What is NOT one of the three primary resources that families have to reach financial goals?
Answers (1)
Home » Business » The difference between representative money and fiat money is that?
Sign Up Forgot Password?