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An issue of bank-notes not backed by gold but by government securities is known as?

Economics
JAMB 1998
An issue of bank-notes not backed by gold but by government securities is known as?
  • A. fiduciary isssue
  • B. guaranteed money
  • C. seignior age
  • D. legal tender
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Correct Answer: Option A
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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