A paper note has no value in itself but a government declares it legal…

Question

A paper note has no value in itself but a government declares it legal tender. That is:

Accepted Answer

B. Fiat money

1. The paper is worth nothing as paper.
2. Its value comes from the declaration.
3. That is fiat money.
_Source: OpenStax Principles of Macroeconomics 3e, Chapter 14, Money and Banking._

Answer

Fixed money

Answer

Field money

Answer

Filed money

A paper note has no value in itself but a government declares it legal tender. That is:

Keep practising Money and Banking