To enhance my learing could you please show me how to answer this problem in a intelligent manner?
Come up with an alternative money to currency. Please remember, currency is cash. Do not use any other forms of money, such as, checks, debit cards, and ect. By the way, please do not use precious metals or jewals.
Justify your selections using the three (3) characteristics of money.
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Let me first go over the 3 characteristics of money.
1) It is as a medium of exchange. This means that you can take your item and use it get something else in exchange.
2) It can be used as a "unit of account". There are three criteria to this:
- the item needs to be able to be divisible
- the more of the item, the more it is worth - the less amount of the item, the less it is worth
- the item needs to be "fungible", or, each particular piece should be recognizable as equivalent to another corresponding piece
3) It is that it ...
This postings wants us to think of an alternative to cash. It defines the three (3) characteristics of money. It then propose a solution and makes sure the solution fits against the (3) characteristics of money.
Money and Monetary Policy
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