Definitions from the Web
Fiat Money
Description:
Fiat money refers to a type of currency that is not backed by a physical commodity, such as gold or silver, but is declared by a government as legal tender.
Senses:
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Noun - General Sense:
In the general sense, fiat money is any form of money that is issued by a government and is widely accepted as a medium of exchange.
Example sentence: Fiat money has become the dominant form of currency in most countries.
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Noun - Economic Sense:
In the economic sense, fiat money refers specifically to currency that has value because of government regulation or law.
Example sentence: The stability of fiat money is dependent on the confidence of the public in the government's ability to maintain its value.
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Adjective:
The term "fiat money" can also be used as an adjective to describe any currency that is not backed by a physical asset.
Example sentence: The country's fiat money system has been met with both praise and criticism.
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