Teaching Rajasthan 3rd Grade REET Mains (Level I & II) Mock Test General Knowledge Economy Money and Banking
Which of the following is a correct statement about ‘Fiat Money’?
1
It is a government-issued currency that is not backed by physical commodity.
2
Fiat money does not have any control.
3
It is a government-issued currency that is backed by physical commodity.
4
It is rarely used in modern economy.