Fiduciary issue is that part of?

Assessment: JAMB UTME - Economics - 2020 Subject: Economics

Question 1 Report

Fiduciary issue is that part of?
Answer Details
Fiduciary issue refers to the issue of notes or currency not backed by a tangible asset such as gold. It means that the currency's value is based on the trust or confidence people have in the issuing government or central bank. In other words, it is a type of currency that is not backed by a specific amount of physical assets and its value is based on the trust in the issuing authority.
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