The official currency of the United States can properly be classified as?

Understand the Problem

The question is asking to classify the official currency of the United States into one of the provided categories, which are types of money.

More Information

Fiat money is government-issued currency that is not backed by a physical commodity like gold or silver. Its value is derived from the trust in the issuing government.

Tips

A common mistake is confusing fiat money with commodity money, which is backed by physical goods like gold.

Sources

• The gold standard was completely replaced by fiat money - Investopedia - investopedia.com