JAMB - Economics (2020 - No. 21)
Fiduciary issue is that part of?
the issue of notes backed entirely by gold
a country's currency that is not negotiable
the issue of notes not backed by gold
a country's currency officially issued
Erläuterung
The fiduciary issue is that portion of a note issued by the government that is not matched by government holdings of gold or other securities or that part of a note that lacks the backing of metal or coin or assets capable of being converted into coin.