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Consider how the following situations would affect the economy’s monetary system

4. Consider how the following situations would affect the economy’s monetary system.

a. Suppose that the people on Yap discovered an easy way to make limestone wheels. How would this development affect the usefulness of stone wheels as money? Explain.

b. Suppose that someone in your country discovered an easy way to counterfeit the legal currency notes which circulate in your economy. How would this development affect the monetary system? Explain.

Apr 29 2020 View more View Less

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