Fiduciary issue is that part of?
ECONOMICS
JAMB 2003
Fiduciary issue is that part of?
- A. the issue of notes backed entirely by gold
- B. a country's currency that is not negotiable
- C. the issue of notes not backed by gold
- D. a country's currency officially issued
Correct Answer: C. the issue of notes not backed by gold
Explanation
The fiduciary issue is that portion of a note issued by the government that is not matched by government holdings of gold or other securities or that part of a note that lacks the backing of metal or coin or assets capable of being converted into coin.
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