The currency issued by the Central Bank is known as __________ and is backed by supporting reserves and its value is a sovereign guarantee.
CA Foundation · Business Economics · PYQS · January 2025
The currency issued by the Central Bank is known as __________ and is backed by supporting reserves and its value is a sovereign guarantee.
Suggested Answer and Working Notes:
Correct Answer: Option (C)
C. Fiat money
Topics: Money Market