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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Principles Of Macroeconomics

ISBN: 9780176591977

7th Canadian Edition

Authors: N. Mankiw, Ronald Kneebone, Kenneth McKenzie

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