To say money is socially defined means that:

A. money has been defined in a Constitutional amendment.
B. whatever performs the functions of money extremely well is considered to be money.
C. the money supply includes all public and private securities purchased by society.
D. society, acting through Congress, specifies what shall be included in the money supply.

B. whatever performs the functions of money extremely well is considered to be money.

Economics

You might also like to view...

Multilateral aid is provided by

a. The U.S. Agency for International Development b. The Canadian International Development Agency c. The World Bank d. The American Red Cross e. none of the above

Economics

Suppose two variables are directly related. If one variable rises, then the other variable:

a. remains unchanged. b. falls. c. also rises. d. reacts unpredictably.

Economics