Personal possession of currency is prohibited in U.S. prisons, although, in prac

Question

Personal possession of currency is prohibited in U.S. prisons, although, in practice, prisoners still exchange goods and services. American prisoners used cigarettes as a medium of exchange until smoking was banned in U.S. prisons in 2003. After 2003, prisoners looked to other items on the commissary menu to facilitate exchange. In 2008, the Wall Street Journal reported that energy bars had caught on as money in some American prisons. Outside of U.S. prisons, people use the U.S. dollar for day-to-day transactions. One important difference between using energy bars and using dollars as money is that have intrinsic value. U.S. dollars are an example of money.

Explanation / Answer

is that energy bars have intrinsic value.

U.S. dollars are an example of fiat money.

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