eco349

Task: Question 1: (The functions of money) You visit a tropical island that has only four goods in its economy – oranges, pineapples, coconuts, and bananas. There is no money in this economy. 1. An islander suggests designating oranges as the means of payment and unit of account for the economy. How many prices would there be if her suggestion was followed? 2. Would you recommend the issue of a paper currency by the government of the island? What

22 Other / Other University Of Toronto / eco349 18 Nov 2020