Common cents?: the role of pennies in the U.S. economy
King, Stephanie D.
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This thesis analyzes the impact that the elimination of pennies would have on the U.S. and global economies. This analysis is then compared to the Department of Defense's policy in not utilizing pennies in any of its overseas bases and examines the pros and cons of this course of action on the exchanges and its customers. The objective of this thesis is to identify the financial burden, if any, of maintaining pennies in the U.S. currency to both the government and its citizens. The body of this thesis explores whether or not the U.S. government should continue the production and use of pennies or if the DoD's model could work in the greater economy. This thesis finds that the soundest approach the government could take to deal with this issue is the current legislation proposed by Arizona Representative Kolbe, who proposes the government stops producing pennies, and that businesses utilize the rounding approach to deal with all transactions ending in cents.
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