If dollar bills (Federal Reserve notes) are backed by nothing but promises and are in real terms

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If dollar bills (Federal Reserve notes) are backed by nothing but promises and are in real terms worthless, why do people accept them?

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Macroeconomics

ISBN: 978-1259663048

10th edition

Authors: David C. Colander

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Question Posted: Dec 05, 2018 06:31 AM

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If dollar bills (Federal Reserve notes) are backed by nothing but promises and are in real terms

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Money doesnt have to have any inherent value to ...View the full answer

Macroeconomics

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