Money serves as a universally recognized medium for the exchange of goods and services.
- It removes the necessity for a double coincidence of wants, a significant drawback of the barter system.
- This improvement boosts trade efficiency and streamlines transactions.
Identify the incorrect feature(s) of money supply (\(M_1\)) from the following:
(i) It is measured at a point of time.
(ii) It does not include stock of money held by the government.
(iii) It is always the currency in the hands of the Central Bank of a nation.