1. Money has several functions. Enumerate and discuss each function in your own words 2. On the basis of experience of countries with the use of a medium of exchange, such medium of exchange ought to possess certain characteristics. Discuss in your own words the characteristics of a good medium of exchange. 3. Discuss the development of the concept of money.

1. Money has several functions. Enumerate and discuss each function in your own words 2. On the basis of experience of countries with the use of a medium of exchange, such medium of exchange ought to possess certain characteristics. Discuss in your own words the characteristics of a good medium of exchange. 3. Discuss the development of the concept of money.

Brief Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781337091985

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter11: The Monetary System

Section: Chapter Questions

Problem 1PA

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