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Definition of Money
We should define what we mean by money. Money has a long as well as interesting history and an understanding of how we came to use money is useful for any macroeconomist. Unfortunately, there is not enough space to describe how money was "invented" and how it evolved over time. There are, though, many excellent descriptions on the Internet.
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if the price elasticity of demand is computed for two products, and product A measures .79 , and product B measures 1.6 , then ? a. product A is more price elastic than product
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