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Question: Gresham's law says that bad money drives good money out of the marketplace. One example was the 1965 U.S. Coinage Act, which replaced silver quarters with "sandwich" coins made of a cheaper silver-nickel alloy. The pre-1965 quarters quickly vanished from circulation. Where did all the pre-1965 silver quarters go? Is Gresham's law much of a problem in today's economy with paper money and credit cards?

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M92292092

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