Whatever serves as a medium of exchange is
A)money
B)money,so long as it also is the best such medium of exchange available
C)money,so long as it is not also a commodity
D)money,so long as it is not also legal tender
E)not money unless it continues to be backed by its issuing institution

Question

Quizplus · Accepted Answer

Whatever serves as a medium of exchange is considered money, regardless of its backing or whether it is also a commodity. Money simply refers to anything widely accepted in exchange for goods and services.

Whatever Serves as a Medium of Exchange Is