3. The kinds of money Personal possession of currency is prohibited in U.S. prisons, although, in practice, prisoners still exchange goods and services. Until 2003, the year in which the U.S. government banned smoking in federal penitentiaries, cigarettes were the preferred medium of exchange among prisoners. One important difference between using cigarettes and using dollars as money is that have intrinsic value. Cigarettes are an example of money.
3. The kinds of money Personal possession of currency is prohibited in U.S. prisons, although, in practice, prisoners still exchange goods and services. Until 2003, the year in which the U.S. government banned smoking in federal penitentiaries, cigarettes were the preferred medium of exchange among prisoners. One important difference between using cigarettes and using dollars as money is that have intrinsic value. Cigarettes are an example of money.
Chapter1: Making Economics Decisions
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![3. The kinds of money
Personal possession of currency is prohibited in U.S. prisons, although, in practice, prisoners still exchange goods and services. Until 2003, the year in
which the U.S. government banned smoking in federal penitentiaries, cigarettes were the preferred medium of exchange among prisoners. One
important difference between using cigarettes and using dollars as money is that
have intrinsic value.
Cigarettes are an example of
money.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F0ccf583b-3141-45e1-ad26-60f361ecbb8d%2F5bbcc367-be7b-4dd3-ab05-fb65afcdf4a8%2F4b1gifw.png&w=3840&q=75)
Transcribed Image Text:3. The kinds of money
Personal possession of currency is prohibited in U.S. prisons, although, in practice, prisoners still exchange goods and services. Until 2003, the year in
which the U.S. government banned smoking in federal penitentiaries, cigarettes were the preferred medium of exchange among prisoners. One
important difference between using cigarettes and using dollars as money is that
have intrinsic value.
Cigarettes are an example of
money.
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