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If a legal tender law treated the debased coinage as good as the full-bodied coinage (specie) in the settlement of debts, an economist would expect
If a legal tender law treated the debased coinage as good as the full-bodied coinage (specie) in the settlement of debts, an economist would expect that A the debased coins would circulate and the full-bodied coins would be hoarded B the full-bodied coins would circulate and the debased coins would be hoarded
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