Money is what money does. Explain.
What will be an ideal response?
This refers to the idea that money (at least paper money and checks) has no intrinsic value. It is valuable only in terms of its acceptability in exchange for goods and services. In other words, it is valuable only in terms of what it does: act as a medium of exchange, a unit of account, and a store of value.
Economics
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When the aggregate demand curve shifts to the left, real GDP falls unless the aggregate supply curve is
A) horizontal. B) upward-sloping. C) vertical. D) upward-sloping or vertical.
Economics
According to economic liberalism, the regulating force of the economy is
a. self-interest. b. laissez-faire. c. competition. d. the government.
Economics