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Paper money printed in Canada cannot be exchanged for gold or silver. Its value is entirely based on consumers' faith in the Canadian government that
issued it. This makes paper money in Canada an example of:
A. Inflated Money
B. Commodity money
C. Representative money
D. Fiat money

Sagot :

Answer:

D

Explanation:

Fiat money

Parrainidn

Based on the fact that Canadian money cannot be exchanged for gold or silver and is backed by faith in the Canadian government, this is D. Fiat money.

What is fiat money?

This refers to a type of currency that is not backed by any natural minerals such as gold or silver. It is instead backed by the faith of citizens in the government that issues it.

It is the dominant currency in the world at this point because currencies backed by minerals came with several complications.

Find out more on fiat money at https://brainly.com/question/1107162.

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