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

Question

Quizplus · Accepted Answer

Fiat money is currency that is declared by the government to be legal tender and is not backed by a physical commodity, such as gold or silver. If the government issues receipts and declares them to be money, then they are considered fiat money.

If the Government Issues Receipts for Goods and Services and Declares