1 fiat money is backed by goldtrue false2 money is a, Business Management

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1 fiat money is backed by goldtrue false2 money is a

1. Fiat money is backed by gold.True False2. Money is a medium of exchange.True False3. The most important characteristic of money is its acceptability for purchase of goods andservices.True False4. When currency is stable, it provides no incentive to save.True False5. The three important functions of money are that it serves as a medium of exchange, ameasure of value, and a store of value.True False

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