A medium of exchange must be
a. approved by the government
b. socially acceptable in exchange for goods and services
c. easy to reproduce
d. used to eliminate specialization and the division of labor
e. used when a system of barter exists
B
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Some economists warn that "prices aren't everything" in considering agricultural policy. What other issues may slow development, even if prices are "right"?
What will be an ideal response?
Conditions that likely contributed to a credit crunch during the global financial crisis include
A) capital shortfalls caused in part by falling real estate prices. B) regulated hikes in bank capital requirements. C) falling interest rates that raised interest rate risk, causing banks to choose to hold more capital. D) increases in reserve requirements.