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Answer the following questions briefly: 1) According to Quantity Theory of Money, what is the effect of an increase in the quantity of money? 2)

Answer the following questions briefly:

1) According to Quantity Theory of Money, what is the effect of an increase in the quantity of money?

2) Why do you think packs of chewing gum doesn't serve as money?

3) What are the problems that arise when a commodity is used as money?

4) How is money market equilibrium determined"

5) Why are cheques and credit cards not money?

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