Fiat money

From CNM Wiki

Revision as of 15:05, 2 July 2020 by Kainat9 (talk | contribs) (Created page with "Fiat money is the money that is not intrinsically useful and is valued only because it is used as money. (Cf. commodity money, money.) ==Definition== According to Macro...")

(diff) ← Older revision | Latest revision (diff) | Newer revision → (diff)

Jump to: navigation, search

Fiat money is the money that is not intrinsically useful and is valued only because it is used as money. (Cf. commodity money, money.)

Definition

According to Macroeconomics by Mankiw (7th edition),

Fiat money. Money that is not intrinsically useful and is valued only because it is used as money. (Cf. commodity money, money.)

Retrieved from "https://wiki.cnmcyber.com/w/index.php?title=Fiat_money&oldid=50248"