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Need details explanation 1. A. Discuss the medium of exchange role of money, showing with the help of an example of your own design how
Need details explanation
1. A. Discuss the medium of exchange role of money, showing with the help of an example of your own design how a medium of exchange can help avoid a no-trade equilibrium that can arise when agents trade pair-wise using barter.
B. Does the universal acceptability of the object that serves as medium of exchange mean that any object can play this role? Explain why or why not.
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