You pick up a $1 bill. What are you holding?

When you pick up a $1 bill, you are indeed holding currency, a Federal Reserve note, and fiat money, making "all of these answers" the most comprehensive choice.

Currency refers to the physical bills and coins used as a medium of exchange in transactions. The $1 bill is a form of this currency, which is accepted for goods and services.

A Federal Reserve note specifically refers to the paper money that is issued by the Federal Reserve System, the central bank of the United States. The $1 bill is a direct representation of this, as it indicates that it is backed by the authority of the Federal Reserve.

Fiat money is a term used for currency that has value because the government maintains it and people have faith in its value, rather than it being backed by a physical commodity like gold or silver. The $1 bill qualifies as fiat money since its value comes from government regulation and the trust of the people using it.

Since all of these terms accurately describe what you are holding when you pick up a $1 bill, the answer encompasses all relevant definitions, making "all of these answers" the correct choice.