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19-1The Asset Market, Money, and Prices,Part 19-2Agenda•What Is Money?•Portfolio Allocation & the Demand for Assets•The Demand for Money9-3What Is Money?•Moneyis any asset that is widely used and accepted as payment.9-4What Is Money?•The three functions of money:¾Medium of exchange.•Money is used to make (and finalize) transactions.¾Unit of account. •The basic unit for measuring economic value.¾Store of value.•Money can be used to hold wealth.
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