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1. Various financial instruments usually serve one of two distinct purposes:to store value or to transfer risk.Name a financial instrument used for each purpose. 2.Financial

1. Various financial instruments usually serve one of two distinct purposes:to store value or to transfer risk.Name a financial instrument used for each purpose.

2.Financial innovation has reduced individuals' need to carry cash.Explain how.

3.Many people believe that,despite ongoing financial innovations,cash will always be with us to some degree as a form of money.What core principle could justify this view?

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