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- explain this statement in details " money is a difficult concept to define, partly because it fufill several function and partly because of other liquid asset that can serve as substitute for money" explain2. Explain the effects of excessive money supply and how to stop it.1) What are the threes basic functions of money?Decribe how rapid inflation can undermine money's ability to perform each of the three functions?
- What are the three functions that a commodity must fulfill to be useful as money? 13.Why can’t food be used as a form of money? 14.Money is what money does. Explain.20. Assuming that prices of various consumer goods increase in the country. This event will _____________ and cause the interest rates in the money market to ___________. A. increase the supply of money; fall B.decrease the supply of money; rise C. increase the demand for money; fall D. increase the demand for money; rise1. Explain why the use of fiat money reduces search costs.