In explaining the evolution of money
A) government regulation is the most important factor.
B) commodity money, because it is valued more highly, tends to drive out paper money.
C) new forms of money evolve to lower transaction costs.
D) paper money is always backed by gold and therefore more desirable than checks.
C
Economics
You might also like to view...
In the absence of a Ricardo-Barro effect, a government budget deficit ________ the demand for loanable funds, ________ the real interest rate, and ________ investment
A) increases; increases; crowds out B) increases; decreases; increases C) decreases; increases; increases D) decreases; increases; crowds out
Economics
Control of a scarce resource or input can serve as an entry barrier
a. True b. False Indicate whether the statement is true or false
Economics