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Give your opinion on the validity of the following statement: Money must have material backing to have value. Justify your response.

• Give your opinion on the validity of the following statement: Money must have material backing to have value. Justify your response.

Take a stand on whether or not it would be easier for the Federal Reserve to expand the supply of money in a period of prosperity versus in a period of recession. Provide support for your response.
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Money must have material backing to have value. Justify your response.
NO. The concept of fiat money does not require any physical backing with
gold/commodity. The only backing required is the...

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