Which of the following is NOT backed by gold but by gover...
Which of the following is NOT backed by gold but by government securites?
Fiduciary note
Token money
Commodity money
Fiat money
Correct answer is A
Fiduciary note. This term refers to that portion of anote issue, whether that of a Government or of a bank, which is not protected by a specific backing of metal or coin or assets capable of being converted into coin or bullion on demand.
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