All U.S. currency, including paper money and coins, is designated as ______; that is, the federal government mandates its acceptance in transactions and requires that dollars be used in payment of taxes.

Question

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U.S. currency is designated as "legal tender," meaning it is officially recognized by the federal government for the settlement of public and private debts, and must be accepted for transactions and in payment of taxes.

All US Currency, Including Paper Money and Coins, Is Designated as as ______;