When the market is drawn with the value of money on the vertical axis, the price level decreases if Money demand shifts right or money supply shifts left.
Money is an object or verifiable record that is commonly used in a particular country or socio-economic situation as payment for goods and services and to repay debts such as debts.
Taxes are accepted. The main functions of money are the medium of exchange, unit of account, store of value, and sometimes deferment of payments. Any item or verifiable record that performs these functions can be considered money.
Currencies have historically been an emerging market phenomenon, establishing commodity currencies, but almost all modern monetary systems are based on fiat currencies.
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