The natives simply trade her checks among themselves

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Reference no: EM13892024

A famous American has been visiting the same tropical island for 15 years for vacations. When she goes she pays for everything by writing checks drawn on her U.S. bank. The currency the natives use are not U.S. dollars; they use a currency called a fungo. The natives never cash her checks. She is so well known on the island that the natives simply trade her checks among themselves. Who is paying for her vacation?

Reference no: EM13892024

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