The type of currency issued by government as legal tender the value of which is based solely on decree or law rather than actual coin or precious metal reserves is termed as:

Related MCQs

• Bimetallism is the monetary policy based on the use of two metals, as legal tender without limit and equalized by law in a fixed ratio. Which are these two metals?
• Legal Tender Money is -
• "Legal Tender Money" refers to :
• Of all methods of payment, the recognized legal tender is:-
• In economics, Gold Standard is the monetary system where in all form of legal tender may be converted on demand, into fixed quantities of gold. In 1816, the first country to go on the gold standard was:
• Consumer goods that yield services or utility over time rather than being used up instantly are termed as
• Pegging up of a currency means, fixing the value of a currency -
• The prices that are set by government rather than by negotiation between a seller and a buyer are known as
• The price at which one currency is exchanged for another currency is known as:
• The reduction in value of an asset as reduction in the value of currency is known as: