A similar variation may be noted in the utilization of marginal land, marginal factories, marginal forges, and marginal agents of every kind.[5] Sec.8.

#The general level of prices#.

We come now to a more peculiar aspect of the monetary value problem.

In performing its function as general medium of trade, money determines the general level of monetary prices.

We have the idea of a general level of prices whenever we contrast the price ratio of money to other commodities at one time with its ratio at another time.