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The invention of money supplemented the barter system by providing a nonperishable medium of exchange b. A The concept of Money plays an important role in human life. Inflation Definition This idea lies behind the quantity theory of money. . The invention of money completely replaced the barter system with a free-market system c. Perhaps the original theoretical version of this idea is found in David Humes 1752 Of Money which describes money as a veil. Jacob Goldstein co-host of NPRs Planet Money joins host Krys Boyd to talk about how our world goes round in large part because weve all swallowed hard. The invention of money supplemented the barter system by. Books were made more quickly and effectively. The commodity theory of money money of exchange is preferred by those who wish to view money as a natural outgrowth of market activity. Supplemented the barter system by providing a nonperishable medium of ...

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