Which of the following is an advantage of using money as a medium of exchange?
A) It simplifies purchases because all prices are specified in money values.
B) There is no interest charged on using money for purchases.
C) It is easy to mass produce money.
D) It avoids having to rely on barter, the exchange of one good or service for another.
Ans: D) It avoids having to rely on barter, the exchange of one good or service for another
Economics
You might also like to view...
Use the graph above to answer the following question. What can we conclude about the attitude towards risk this individual is portraying given this utility function?
What will be an ideal response?
Economics
The profit-maximizing level of output for a firm occurs at the point at which
A) P = ATC. B) P = AVC. C) MR = MC. D) MR = ATC.
Economics