In the contemporary Canadian economy, the best example of fiat money would be

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Fiat money is currency that a government has declared to be legal tender, but it is not backed by a physical commodity. The stock of notes issued by the Bank of Canada is the best example of fiat money in the contemporary Canadian economy, as these notes are legal tender recognized and backed by the government's decree rather than a physical asset like gold or silver.

In the Contemporary Canadian Economy, the Best Example of Fiat