Fiat money is money that has a value apart from its use as money.

Name: Fiat money is money that has a value apart from its use as money.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Fiat money derives its value solely from the government's declaration that it is legal tender, and is not backed by a physical commodity such as gold or silver. Its value is based on the stability of the issuing government and its economy, and its use as a medium of exchange within that economy.

Fiat Money Is Money That Has a Value Apart from Its