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.	+	#REDIRECT [[Fiat currency]]
−	~~[[Category:Economics~~]]	+