If a piece of currency must be accepted for payment because the government says so,the currency is called

Name: If a piece of currency must be accepted for payment because the government says so,the currency is called
Brand: Quizplus
Rating: 4.8 (56 reviews)

Question

Quizplus · Accepted Answer

Fiat money is currency that has value only because the government declares it to be an acceptable means to pay debts. Fiat money is not backed by a physical commodity such as gold or silver and has no intrinsic value. Instead, it derives its value from government regulation or law.

If a Piece of Currency Must Be Accepted for Payment