What is seignorage revenue and how does it apply to U.S. coins?
What will be an ideal response?
Under the fiat money system, the government makes a profit, known as seignorage revenue, on every coin that is issued.This is because fiat money is worth more in exchange of goods and services than the value of the materials of which it is made. Since, coins act as fiat money in the United States, the government earns some revenue on every coin issued.
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Indicate whether the statement is true or false