How does the existence of money affect economic growth?
What will be an ideal response?
It reduces transactions costs and other efficiencies of barter. People can specialize, becoming far more productive than if they tried to produce all goods and services they consumer themselves.
Economics
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Gross Domestic Product equals
A) Y = C + I + G + NX. B) Y = C - I + G + NX. C) Y = C + I + G - NX. D) Y = C + I - G + NX. E) Y = C - I - G - NX.
Economics
When a consumer is able and willing to buy a good or service, s/he creates ____________ .
a. consumption b. demand c. elasticity d. allocation
Economics