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About Money in Macroeconomics
Money serves important functions in macroeconomics by facilitating exchange and acting as a store of value. Historically, commodities served as money, but modern economies now use fiat currency not backed by commodities. Money functions as a medium of exchange, store of value, and unit of account. Its most essential functions are as a medium of exchange and store of value by allowing the transfer of value over time and space. The money supply refers to the total amount of money available in an economy and can be measured in different ways such as M0, M1, and M2.
Detailed Information
Author: | ['Joab Dan Valdivia Coria'] |
---|---|
Publication Year: | 2014 |
Pages: | 16 |
Language: | English |
Format: | |
Price: | FREE |
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