Answer to Question #59180 in Macroeconomics for Junior
5. What is Money?
A. What is value of Money?
Once the country is a drug-importing, the outflow of laundered money decreases its accounts, weakens the value of local currency comparatively to US dollar, and worsens living standards. An increase in drug-use decreases the social security in the country.
Money is a medium of exchange. It can be any item or verifiable record that is accepted as a payment for goods, services, repayment of debts.
The value of money is a utility delivered from every purchase of sum of money spent.
Need a fast expert's response?Submit order
and get a quick answer at the best price
for any assignment or question with DETAILED EXPLANATIONS!