For this exercise, your instructor may assign you to a group. Each group member should first write

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For this exercise, your instructor may assign you to a group. Each group member should first write down what he or she found surprising about both the definition of money and what the Federal Reserve includes in its measures of the money supply (You might need to look up the definitions of these terms in Section 25.2.) Be sure to mention how money compares to income and wealth. After working individually, the group should work together to write a one- or two-paragraph report on common misconceptions about what economists call money.

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Economics

ISBN: 978-0134738321

7th edition

Authors: R. Glenn Hubbard, Anthony Patrick O Brien

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