Do answer 1. The use of money as a unit ofaccount:a relies on the existence of adouble coincidence of wants.b inhibits the exchange of goods. and services.allows individuals to compareC relative values of goods andservices easily.d discourages specialization anddivision of labor.emakes it difficult to compare therelative values of goods andservices.

Money is referred to as something which is generally accepted by people in exchange for goods and…

1. The use of money as a unit of account: a relies on the existence of a double coincidence of wants. b inhibits the exchange of goods and services. C allows individuals to compare relative values of goods and services easily. d discourages specialization and division of labor. e makes it difficult to compare the relative values of goods and services.

1. The use of money as a unit of account: a relies on the existence of a double coincidence of wants. b inhibits the exchange of goods and services. C allows individuals to compare relative values of goods and services easily. d discourages specialization and division of labor. e makes it difficult to compare the relative values of goods and services.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter19: The Macroeconomic Perspective

Section: Chapter Questions

Problem 29P: The prime interest rate is the rate that banks charge their best customers. Based on the nominal...

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