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Economics: Monetary Systems Questions and Answers Grade A+ 2023

Checking Account - -Bank service that allows people to keep their money in the bank and to take out the money on demand. -Denomination - -Paper money of a certain value. -Exchange Rate - -Amount... of one currency that can be traded for a unit of another currency. -Minting - -The process of stamping out a coin from metal. -Money - -Items that are widely accepted as final payment for goods and services; also called currency. -Select the items that describe the benefits of coins and paper money. - -- easily divisible - easy to carry - valuable -When money is deposited in the bank for later use, it is a _____. - -store of value -When you use paper money to pay for food, the money is a _____. - -medium of exchange -When you compare the prices of two different pairs of shoes, money is a _____. - -unit of account [Show More]

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