In the absence of money, people would have to rely on credit cards in order to obtain the things they needed.
Correct Answer:
Verified
Q15: A medium of exchange is an item
Q16: If the reserve ratio is 10 per
Q17: An independent RBA has minimised the level
Q18: If the currency to deposit ratio falls,
Q19: The gold standard is used as the
Q21: There is a _:
A)short-run trade-off between prices
Q22: The M1 measure of money consists of
Q23: If the reserve requirement is increased to
Q24: If the reserve ratio is 10 per
Q25: The value of money:
A)increases when prices rise
B)increases
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