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Fiat Money
Fiat money is a type of currency that is issued by a government. It has value because the government maintains it and people have faith in its use. It is not backed by a physical commodity like gold or silver, but it is accepted as a medium of exchange due to government regulation.
Fiat money is the standard form of currency in most modern economies. It includes the U.S. dollar, euro, and yen. Fiat money allows governments and central banks to have greater control over the economy through monetary policy.
While fiat money provides flexibility in managing economic stability and growth, it also relies on the issuing government’s stability and credibility.
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