In a fiduciary monetary system, the value of the money issued by a gov

In a fiduciary monetary system, the value of the money issued by a government is based on

A) the ability to convert it to some asset of value, like silver.
B) the gold held in that government’s vaults.
C) public confidence in that currency’s acceptability and predictability of value.
D) its being made out of some material with a market value equal to a bill’s face value.

ANSWER

C