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What are the 4 types of money?

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Commodity money is money that is backed by a physical commodity, such as gold or silver.

Commodity money

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Fiat money is money that is not backed by a physical commodity, but is instead declared legal tender by a government.

Fiat money

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Fiduciary money is money that is not backed by a physical commodity or by the full faith and credit of the issuing government.

Fiduciary money

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Commercial bank money is a type of fiduciary money that is created by commercial banks through the process of fractional reserve banking.

Commercial bank money

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