Question: 1. LO 4 In the monetary intertemporal model, show that it is possible to have an equilibrium where money is not held and only credit

1. LO 4 In the monetary intertemporal model, show that it is possible to have an equilibrium where money is not held and only credit cards are used in transactions. Is there such a thing as a price level in this equilibrium? Does monetary policy work? If so, how? Explain your results and what they mean for actual economies.

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