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

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

 

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M9311095

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