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Macroeconomic Impact On Business Operations 1

Macroeconomic Impact on Business Operations

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Title: Macroeconomic Impact on Business Operations

Essay Details:

Subject: Book Reports

Author: Gilbert C

Date: April 21, 2013

Level:

Grade: A

Length: 6 / 1796

Essay text:

As time passed gold was discovered and was considered as a form of money where it could be exchanged for the everyday necessities of life. Each time a purchase was made, the gold had to be weighed and have a value placed on it. This became time consuming so a goldsmith would hold the gold and issue receipts for the gold that could be exchanged for goods and services from the different businesses in town. When someone borrowed gold from the goldsmith, instead of taking the loan in the form of gold, the person accepted the paper IOUs of the goldsmith. Since people accepted these paper IOUs as money, this transaction increased the amount of money in circulation...

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