Question : Money which is accepted as a medium of exchange because of the trust between the payer and the payee is called:
Option 1: Full-bodied money
Option 2: Credit money
Option 3: Fiat money
Option 4: Fiduciary money
Correct Answer: Fiduciary money
Solution : The correct answer is (d). Fiduciary money
Fiduciary money refers to money that is accepted as a medium of exchange based on the trust or confidence between the payer (person making the payment) and the payee (person receiving the payment). It is a form of money that relies on the trustworthiness and credibility of the issuing authority or institution.
Question : When money value of money exceeds the commodity value of money, it is called:
Question : Currency notes and coins are called ______.
Question : The currency issued by the central bank is called ___________.
Question : Paper money is also called ___________.
Question : Which of the following is not a type of money?
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