Which of the following is not true about currency notes and coins? Option 1: They are fiat money Option 2: There are legal tenders Option 3: They have intrinsic value like gold and silver Option 4: They cannot be refused by any citizen of the country for settlement of any kind of transaction

The answer is 'They have intrinsic value like gold and silver'. View full solution:

CUET Economics - Which of the following is not true about currency notes and coins? | PYQs + Solutions

CUET Economics 2025 15 May Shift 1

Macro

Easy

They are fiat money

There are legal tenders

They have intrinsic value like gold and silver

They cannot be refused by any citizen of the country for settlement of any kind of transaction

✅ Correct Option: 3

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