The most direct way in which money eliminates the need for a double coincidence of wants is through its use as a medium of exchange

The real exchange rate between two currencies tells us:

a) changes in the exchange rate over time b) how many units of one currency can be purchased with one unit of the home currency C) how much in terms of goods and services the home currency will buy in the foreign nation compared to the home nation

Which of the following accurately measures the welfare or happiness of society?

A) Nominal GDP B) Real GDP C) Both Nominal GDP and Real GDP D) None of the above.