Question
How might limited acceptability of antique military hardware in exchange, and difficulties in predicting their values from year to year, help to explain their low
How might limited acceptability of antique military hardware in exchange, and difficulties in predicting their values from year to year, help to explain their low liquidity relative to the most liquid asset, money? How might these characteristics affect the likelihood that these assets could function as forms of money?
Assets that people
exchange are typically among their more liquid assets. Most people
willing to accept
antiquemilitaryhardware
in exchange, so their liquidity is relatively
and their usefulness as a medium of exchange is
.
Difficulties in predicting the value of
antiquemilitaryhardware
would make them uncertain stores of purchasing power and thereby also
their liquidity and usefulness as forms of money.
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