Who defined 'Money is what it does'?

Crowther

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Walker

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Robertson

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None of these

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Solution

The correct option is C Walker
‘Money is what it does’ is defined by Prof. Walker. This means that money is a term which is defined by its functions some of which are medium of exchange, measure of value, unit of account, etc. It includes notes, coins, bank drafts, cheques, bills of exchange, etc.

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Which of the following economists defined money as, ‘Money is what money does’?

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