Examlex
One type of market failure occurs when markets cannot provide for the public good. Explain the two criteria that determine whether a good is private or public.
Money
A medium of exchange that facilitates transactions, serving as a unit of account, a store of value, and sometimes, a standard of deferred payment.
Reserve Rate
The fraction of depositors' balances banks must have on hand as cash, a requirement determined by the central bank.
Gold Coins
Metallic forms of money minted from gold, used historically and currently as investment or collectible items.
Transactions Demand
The demand for money as a medium of exchange, reflecting the desire to hold money for everyday transactions.
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