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Throughout history, the most popular form of money has been gold.

a. Give three reasons why gold has been such a popular form of money.

b. What would happen to the value of gold if people discovered that it could easily be made at home from inexpensive materials? describe your answer.

c. Suppose that a nation's money supply consisted of copper, silver, and gold coins, and paper currency. Also suppose that the worldwide value of gold began to increase dramatically. describe what holders of gold could be expected to do with their gold coins.

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M947243

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