Following the end of World War II in 1945, the Reichsmark, the German currency, lost so much

Question:

Following the end of World War II in 1945, the Reichsmark, the German currency, lost so much value that a barter economy developed. During this period, many Germans used U.S. cigarettes as currency. Why might people have used cigarettes, rather than another commodity, as currency in these circumstances? Would only people who smoked cigarettes have been willing to use them as money? Briefly explain.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Money Banking And The Financial System

ISBN: 1801

3rd Edition

Authors: R. Glenn Hubbard, Anthony Patrick O'Brien

Question Posted: