What is the missing word (according to the course materials)? “One way to comprehend virtual currency is to first understand _______  currency. ______ currency is any legal tender designated and issued by a central authority that people are willing to accept in exchange for goods and services because it is backed by regulation and because they trust this central authority. ________ money is similar to commodity-backed money in appearance and usage, but differs in that it cannot be redeemed for a commodity, such as gold” (European Central Bank, 2012).

What is the missing word (according to the course materials)? “__________ currency is “a type of unregulated, digital money, which is issued and usually controlled by its developers, and used and accepted among the members of a specific _________ community.” Although there are different types of _______ currencies… (we will focus) on ______ currencies with “bidirectional flow” since these currencies intersect most directly with the real economy. _________ currencies with bidirectional flow may be bought and sold according to prevailing exchange rates and may be used to purchase both real and ________ goods and service…” (World Bank, 2014).Group of answer choicesVirtualDigitalMan-madeCrypto

Money that some authority has declared legal tender is called:Question 3Select one:a.fiat money.b.currency.c.convertible paper money.d.commodity money.

Which of the following words will you not use to describe cryptocurrency*Virtual currencyBlockchain technologyLegal tenderVolatile

Which of the following is the best description of fiat money?Group of answer choicesCheque accounts and debit cards.Coins made of gold and silver.Paper money that can be redeemed for gold or silver.Legal tender that has no intrinsic value.

1. Money which is issued by the monetary authority of India is known as _____. A. Legal Reserve Ratio B. Legal tender money C. Legal Reserve Requirement D. None of these