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Essentials of Economics 7th Edition by Gregory Mankiw
Edition 7ISBN: 978-1285165950Essentials of Economics 7th Edition by Gregory Mankiw
Edition 7ISBN: 978-1285165950 Exercise 9
Which of the following are considered money in the U.S. economy? Which are not? Explain your answers by discussing each of the three functions of money.
a. a U.S. penny
b. a Mexican peso
c. a Picasso painting
d. a plastic credit card
a. a U.S. penny
b. a Mexican peso
c. a Picasso painting
d. a plastic credit card
Explanation
Verified
Verified
Functions of money:
1. Medium of exchan...
Essentials of Economics 7th Edition by Gregory Mankiw
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