Using the five criteria in the book, explain how U.S. currency is suitable to use as a medium of exchange
What will be an ideal response?
1. Dollars are acceptable to most traders, either in exchange for goods and services or as payment of debts.
2. Coin and currency in circulation are of standardized quality. Bills of the same denomination are identical in appearance.
3. Coins and currency in circulation are durable: their value is not altered by spoilage.
4. Dollars are light in weight so that they are very valuable relative to their weight and they are easily transported.
5. Finally, dollars are divisible.
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Only individuals choose, which means
A) only individuals exist. B) collectives do not exist. C) only individuals can assess the expected costs and benefits of an action. D) all of the above.
Authors Ulrich and Dunne found that many of the ways that people react to work, employers, and coworkers are based on:
a. early childhood experiences b. school experiences with teachers c. language development d. first paid work experiences