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Which of the following best explains the difference between commodity money and fiat money?

A$.$ Commodity money has no value except as money, whereas fiat money has value independent of its use as money.

B$.$ Commodity money is usually authorized by the central bank, whereas fiat money has to be exchanged for gold by the

C$.$ Fiat money has no value except as money, whereas commodity money has value independent of its use as money.

D$.$ All money is commodity money, as it has to be exchanged for gold by the central bank.