______________is the money that is accepted as a medium of exchange because of the trust between the payer and the payee.
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. Fiduciary money.
- Fiduciary money, or currency, refers to banknotes and coins in circulation in the economy.
- This is the liquidity available to economic actors to carry out transactions. It is a means of payment.
- Currency is tangible property, unlike scriptural money which is immaterial.