If the government issues receipts for goods and services and declares the receipts to be money, then those receipts are considered to be fiat money.

Question

Quizplus · Accepted Answer

Fiat money is a currency that has no intrinsic value and is declared as legal tender by the government. This means that the value of fiat money is derived from the government's declaration rather than the actual worth of the material used to create the money. Therefore, if the government issues receipts for goods and services and declares them to be money, then those receipts are considered to be fiat money.

If the Government Issues Receipts for Goods and Services and Declares