Each of the following has been used as money at some time in the past. Comment on

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Each of the following has been used as money at some time in the past. Comment on how well each fulfills the four functions of money and why it might be used as money.
a. Gold or silver
b. Cigarettes
c. Salt
d. Native American beads

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Macroeconomics

ISBN: 9780132109994

1st Edition

Authors: Glenn Hubbard, Anthony Patrick O'Brien, Matthew P Rafferty

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Question Posted: Feb 04, 2016 06:42 AM

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Each of the following has been used as money at some time in the past. Comment on

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a Gold or silver is reasonably easily divisible so it acts as a unit of account Since it has an intr...View the full answer

Macroeconomics

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