Economics · Money and Banking
Which of the following is a MISLEADING or incorrect statement about the general concept of money and legal tender?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Most sovereign governments maintain and control their own domestic money system.
- 2High-denomination legal currency notes are widely accepted by people for large transactions.
- 3Money is the most liquid asset used for the settlement of economic transactions.
- 4Decentralized cryptocurrencies are universally used as legal physical fiat money issued by states.✓
Correct answer
Decentralized cryptocurrencies are universally used as legal physical fiat money issued by states.
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