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True about money

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Reference no: EM131580884

Which of the following is true about money?

a. it cannot reduce the 'transaction costs' associated with a 'barter system'

b. it is backed by an equivalent amount of a precious metal such as gold

c. it never loses purchasing power

d. it will typically store value for the short-term, but not for the long-term

Reference no: EM131580884

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