For an asset to be a "means of payment," the asset
A)is valuable and backed by gold.
B)is valuable and backed by the government.
C)can be used to settle a debt.
D)requires a double coincidence of wants.
E)must be used when bartering.

Question

Quizplus · Accepted Answer

For an asset to be a "means of payment," it must be able to settle a debt. The other options are not necessarily required for an asset to be considered a means of payment.

For an Asset to Be a "Means of Payment," the Asset