How does the US dollar differ from money used in the past? (1 point)
O The US dollar has intrinsic value and is redeemable for a valuable good.
The US dollar has intrinsic value
The US dollar has no intrinsic value but is redeemable for a valuable good
The US dollar has no intrinsic value
and is not redeemable for a valuable good
The correct answer is:
The US dollar has no intrinsic value.
The correct answer is: The US dollar has no intrinsic value.
To come to this answer, we need to understand the concept of intrinsic value and compare it to the US dollar. Intrinsic value refers to the inherent worth of an object or item. In the past, many forms of money, such as gold or silver coins, had intrinsic value because they were made of valuable and scarce materials.
However, the US dollar, like most modern fiat currencies, does not have intrinsic value. Its value is not backed by a physical commodity like gold or silver. Instead, the US dollar's value is based on trust and confidence in the government that issues it.
Therefore, the US dollar has no intrinsic value but is widely accepted as a medium of exchange in the United States and internationally.
What's the answer??
Apologies for the confusion. The correct answer is:
The US dollar has no intrinsic value.