4. Consider how the following situations would affect the economy's monetary system. a. Suppose that the people
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4. Consider how the following situations would affect the economy's monetary system.
a. Suppose that the people on Yap discovered an easy way to make limestone wheels. How would this development affect the usefulness of stone wheels as money? Explain.
b. Suppose that someone in Canada discovered an easy way to counterfeit $100 bills. How would this development affect the Canadian monetary system? Explain.
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Related Book For
Principles Of Macroeconomics
ISBN: 9780176591977
7th Canadian Edition
Authors: N. Mankiw, Ronald Kneebone, Kenneth McKenzie
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