The best definition of a medium of exchange is which of the following?
A) something that encourages the specialization and division of labor
B) something that retains it value if held
C) the accounting unit or standardized measure of value in which prices are quoted
D) a means of payment; something used in transactions to make payments.
Correct Answer:
Verified
Q27: The best known and most popular form
Q28: If significant costs are required to convert
Q29: Something that serves as a generally acceptable
Q30: Which is not a function of money?
A)to
Q31: The distinguishing factor of money in the
Q33: The barter system is considered to be
Q34: Compared to a monetary system of exchange,
Q35: Barter systems tend to be found most
Q36: In an economy, money promotes
A)limited exchanges of
Q37: A unit of account refers to which
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