Difference between revisions of "Fiat money"

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'''Fiat money''' is [[currency]] that is valuable only because it has been declared as such by a governing body and is required for settling taxes or other governmental debts. It is not backed fully by [[precious metal]] or any other resource. Fiat money's value is dependant on [[scarcity]]; [[inflation]] occurs when excessive fiat money is produced. The [[Dollar (U.S.)|U.S. Dollar]] is an example of fiat money.
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#REDIRECT [[Fiat currency]]
[[Category:Economics]]
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Latest revision as of 22:12, 27 March 2017

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