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Money acts as a generally accepted medium of exchange that solves the problems of a barter economy by not requiring a double coincidence of wants. It has features of being homogeneous, easily divisible, generally accepted, durable, and portable. Money functions as a unit of account, standard of deferred payment, medium of exchange, and store of value. M1, M2, and M3 are measures of the money supply that include cash, demand deposits, savings deposits, time deposits, and negotiable certificates of deposits a

Author

tiffany

Language

EN