"Fiat Money" is that which is ___________.

accepted by overseas banks only

No worries! We‘ve got your back. Try BYJU‘S free classes today!

decreed as money by the government

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

accepted temporarily in lieu of gold

No worries! We‘ve got your back. Try BYJU‘S free classes today!

backed by gold and silver

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is B decreed as money by the government
Fiat money is a currency without intrinsic value that has been established as money, by government regulation. Hence it is also called legal tender money.

Suggest Corrections

Similar questions

Banks lend money by charging a certain amount of fee. The additional charge is known as ______________.

Join BYJU'S Learning Program