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Related to the Economics in Practice on p. 509: In Santa Cruz, red feathers from the Scarlet Honeyeater bird were used as currency. If someone in Santa Cruz had purchased a "huge amount " of these feathers as an investment, then in this instance, the feathers were being held as a(n) legal tender. store of value. medium of exchange. unit of account.

Related to the Economics in Practice on p. 509: In Santa Cruz, red feathers from the Scarlet Honeyeater bird were used as currency. If someone in Santa Cruz had purchased a "huge amount " of these feathers as an investment, then in this instance, the feathers were being held as a(n) legal tender. store of value. medium of exchange. unit of account.

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Related to the Economics in Practice on p. 509: In Santa Cruz, red feathers from the Scarlet Honeyeater bird were used as currency. If someone in Santa Cruz had purchased a "huge amount " of these feathers as an investment, then in this instance, the feathers were being held as a(n) legal tender. store of value. medium of exchange. unit of account.
Transcribed Image Text:Related to the Economics in Practice on p. 509: In Santa Cruz, red feathers from the Scarlet Honeyeater bird were used as currency. If someone in Santa Cruz had purchased a "huge amount " of these feathers as an investment, then in this instance, the feathers were being held as a(n) legal tender. store of value. medium of exchange. unit of account.
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