Economics WAEC

An issue of bank-notes not backed by gold but by government securities is known as?
An issue of bank-notes not backed by gold but by government securities is known as?An issue of bank-notes not backed by gold but by government securities is known as?

A. fiduciary issue
B. guaranteed money
C. seigniorage
D. legal tender

Correct Answer:

Option A – fiduciary issue

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5 years ago

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