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Line 7: − ==The development of money== − − The earliest discovered forms of money were easily-carried items with some inherent value, such as salt (used in ancient [[Rome]]) and fishhooks (American Indians). This replaced or supplemented pre-existing [[barter]] systems. − − Precious metals, such as [[copper]], [[gold]], and [[silver]], have made good coins, being both easily transportable and having inherent value. In 1933, the [[United States]] abandoned the [[Gold Standard]]<ref>[http://www.u-s-history.com/pages/h753.html The Gold Standard]</ref>, switching over to [[Fiat Currency]], which has no inherent value beyond the government's assurance that it has value. − − ==References== − <references/>
Reverted edits by Gulik3 (Talk); changed back to last version by Pkoad
Money may be viewed as neutral or non-neutral regarding the real economy; it is disputed whether changes in the money market cause changes in real markets. The money market itself consists of a money supply (typically fixed for any given period) and a demand function for money. Because the quantity of money is typically exogenously given, the only variable determined in the money market is the price of money.
Money may be viewed as neutral or non-neutral regarding the real economy; it is disputed whether changes in the money market cause changes in real markets. The money market itself consists of a money supply (typically fixed for any given period) and a demand function for money. Because the quantity of money is typically exogenously given, the only variable determined in the money market is the price of money.
[[Category:Economics]]
[[Category:Economics]]