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27.1 Defining money by its functions  (Page 14/19)

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  • Card 14 / 19:
    fiat money

    has no intrinsic value, but is declared by a government to be the legal tender of a country

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Practice FlashCards 7 Key Terms 10

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Source:  OpenStax, Principles of economics. OpenStax CNX. Sep 19, 2014 Download for free at http://legacy.cnx.org/content/col11613/1.11
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