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Not yet graded / 30 pts Question 34
What are the three basic functions of money? Describe how rapid inflation can undermine money’s ability to perform each of the three functions.
Not yet graded / 30 pts Question 35Your Answer: Which of the following are included in this year’s GDP? Explain your answer in each case. a. An auto dealer’s sale of a new car to a non-business customer.b. The services of a commercial painter in painting the family home.c. The money received by Smith when she sells her biology textbook to a used-book buyer.d. A $2 billion increase in business inventories.e. The publication and sale of a new economics textbook.f. Government purchases of newly produced aircraft.