Achieve for Economics (1-Term Online)
5th Edition
ISBN: 9781319372040
Author: KRUGMAN, Paul
Publisher: Macmillan Higher Education
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Chapter 30, Problem 2BCQ
To determine
The role of increased number of smart phone users in United States (US) in growth of PayPal and its affect on the monetary history.
Introduction: PayPal refers to an electronic fund transfer system that allows all its users to make online transactions. With PayPal one can send and receives payments and even make or receive donations.
PayPal also provides the facility to all the users with PayPal account to set their own currency conversion options.
Monetary system refers to the system of flow of money and the process of its circulation in the entire economy which the help of various commercial banks and the central bank.
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