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What is Money?

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journal contribution
posted on 01.11.2011, 00:00 by Allan Meltzer

Money is the medium of exchange. This simple statement answers the question: What is money? But the answer merely shifts attention to a different set of questions. What is a medium of exchange? Why is it used? What benefits or costs accrue to individuals and society from the use of money?

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01/11/2011

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