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Fundamentals of Economics
, Second Edition
William Boyes, Arizona State University
Michael Melvin, Arizona State University
Internet Exercises
Continental Currency
Examine the
Federal Reserve Board of San Francisco's discussion of the history of paper money in the United States
.
Questions
Use the quantity theory of money discussed in the chapter to explain the decline in the value of Continental currency.
Why might this currency not have served very well as either a store of value or a unit of account
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