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A $10 bill is an example of: fiat money legal tender paper money all of the...

A $10 bill is an example of:

  1. fiat money
  2. legal tender
  3. paper money
  4. all of the above

( I choose B, but I was wrong)

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Answer #1

The answer is option d- all of the above

Fiat money is a currency issued by the government that is not backed by a tangible asset like gold or silver but by the government that issued it. The value of fiat money is derived from the supply-demand relationship and the issuing government's stability, rather than the value of a commodity backing it as is the case for commodity money. Many modern paper currencies, including the U.S. dollar , euro, and other big global currencies, are fiat currencies.

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