Types of Currency

Money in the United States is which type of money?

• fiat money

• representative money

• commodity money

• speculative money

Salt, gold, silver, and Wampum are examples of

• Fiat currency

• Commodity backed currency

• Commodity currency

• Barter Sytem

What is the primary characteristic of fiat currency?

• It is backed by a physical commodity

• It is issued by a government and has no intrinsic value

• It is used in barter systems

• It is always made of precious metals

Which of the following is an example of digital currency?

• Bitcoin

• Gold

• Silver

• Copper

What type of currency is used in a barter system?

• Fiat currency

• Cryptocurrency

• Commodity currency

• No currency is used

Which currency is considered legal tender in most countries?

• Cryptocurrency

• Fiat currency

• Commodity currency

• Barter currency

What is a characteristic of commodity money?

• It has intrinsic value

• It is issued by a central bank

• It is digital

• It is used only in online transactions

Which of the following is NOT a type of currency?

• Fiat currency

• Cryptocurrency

• Commodity currency

• Barter currency

What is the main advantage of using cryptocurrency?

• It is physical and tangible

• It is decentralized and secure

• It is backed by gold

• It is issued by governments

Which of the following currencies is backed by a physical commodity?

• Fiat currency

• Cryptocurrency

• Commodity-backed currency

• Digital currency