List the five criteria necessary in order for a good to be suitable as a medium of exchange, and explain whether Australian currency is suitable to use as a medium of exchange.
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Q28: Paper currency:
A)is commodity money.
B)is fiat money.
C)is barter
Q29: Which of the following is not one
Q30: Which of the following criteria would make
Q31: 'Fiat money':
A)has no or very little value
Q33: Among potential stores of value, money:
A)offers the
Q34: Why must money serve as a store
Q35: Governments in the world today issue fiat
Q36: When employees receive their wages after they
Q37: Gold is an example of:
A)commodity money.
B)fiat money.
C)barter
Q235: What are the functions of money?
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