For something to serve as money, it must be
A) backed by the authority of the government.
B) generally accepted by buyers and sellers.
C) light, durable, and common.
D) convertible to gold.

Question

Quizplus · Accepted Answer

In order for something to serve as money, it must be generally accepted by buyers and sellers, as this creates a standard medium of exchange. While government backing can increase trust in a currency, it is not required. Light, durable, and common features may be helpful but are not essential, and convertibility to gold is no longer a requirement for modern currencies.

For Something to Serve as Money, It Must Be