Explain the following terms (at least 2-3 sentences per term): Legal Tender M1 M2 Medium of Exchange
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Question:
Explain the following terms (at least 2-3 sentences per term):
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Legal Tender
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M1
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M2
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Medium of Exchange
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Monetary Aggregate
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Money
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Specialization
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Standard of deferred payment
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Store of Value
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Transactions Costs
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Unit of Account
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Wealth
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