Discuss the three functions of money and the characteristics needed to make money n effective medium of exchange. Then discuss how money flows through the conomy in regards to the circular flow.
Discuss the three functions of money and the characteristics needed to make money n effective medium of exchange. Then discuss how money flows through the conomy in regards to the circular flow.
Macroeconomics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506756
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter13: Money And The Banking System
Section: Chapter Questions
Problem 3CQ
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please explain in full, detailed sentences!
![Discuss the three functions of money and the characteristics needed to make money
an effective medium of exchange. Then discuss how money flows through the
economy in regards to the circular flow.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F22b5a2d8-50a5-41a9-88ac-fc8e7d060b9b%2F233986bb-52d5-4193-a1f4-3095c3e43d34%2Fth6g5o_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Discuss the three functions of money and the characteristics needed to make money
an effective medium of exchange. Then discuss how money flows through the
economy in regards to the circular flow.
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