Following the end of World War II in 1945, the Reichsmark, the German currency, lost so much
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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.
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Money Banking And The Financial System
ISBN: 1801
3rd Edition
Authors: R. Glenn Hubbard, Anthony Patrick O'Brien
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