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Money & The Federal Reserve

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Suppose a new law stated that any person could print their own money. Consider this and answer the following:

What kind of changes would come about in daily commercial transactions as a result of such a law?
What forms could this private money assume?
What would influence an individual to either accept or reject private money?
What institutions might arise in the free market to help a person decide whether to accept or reject a particular private monetary note?

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Solution Summary

Ramifications of private money are presented.

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Money & The Federal Reserve
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Suppose a new law stated that any person could print their own money. Consider this and answer the following:

1. What kind of changes would come about in daily commercial transactions as a result of such a law?

When such a law is passed people tends to print more money ...

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