Economics
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1. Why is the US$ acceptable in the US and in a number of other countries? In what circumstances would the US$ no longer be acceptable?
2. Explain how banks create checkable deposits by issuing loans.
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Solution Summary
This solution discussed U.S. currency, and banks creating checkable deposits by issuing loans.
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1. Why is the US$ acceptable in the US and in a number of other countries? In what circumstances would the US$ no longer be acceptable?
The U.S. money is acceptable in the U.S. because it was made and designed here. Our forefathers are the ones that put together this system for people to use in order to build a house, get land and to have a job. Furthermore, in a number of other countries, the U.S. money is acceptable there too because of the exchange rate. Since, many businesses do have branches or suppliers of ...
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