The newly discovered island of mogran is in the process of setting up a new country and establishing a monetary system. the mogran people start talking about the currency they would like to create. the first proposal is to issue the mogran moola (their new currency) in only 3 denominations of paper bills (100, 500 and 1000 moolas) but no coinage. in order to save time and resources they will print their currency on a heavy stock cardboard. the bills will be about the size of a business card so that the mogran people will be able to easily carry it with them in their wallets. why will the mooola not function as a medium of exchange?
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The newly discovered island of mogran is in the process of setting up a new country and establishing...
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