QUESTION 49 A medium of exchange is A. The thing traded when barter takes place. B. An object that sellers will accept as payment. C. An asset that is used to settle future debts. D. A measure by which prices are expressed.
Added by Sergio S.
Close
Step 1
It is used to facilitate trade and eliminate the need for barter, where goods are directly exchanged for other goods. Option A states that a medium of exchange is the thing traded when barter takes place. This is incorrect because a medium of exchange is used to Show more…
Show all steps
Your feedback will help us improve your experience
Bradley Duda and 74 other Algebra educators are ready to help you.
Ask a new question
Labs
Want to see this concept in action?
Explore this concept interactively to see how it behaves as you change inputs.
Key Concepts
Recommended Videos
What are the functions of money? A. A measure of debt B. A storehouse of value C. A form of bartering D. A unit of account E. A medium of exchange
William F.
What are the functions of money? A. A storehouse of value B. A form of bartering C. A medium of exchange D. A measure of debt E. A unit of account
Rylie H.
'Holding money as a medium of exchange to make payments is Select one: a. the precautionary demand for money: b. the transactions demand for money: C. the asset demand for money: d. the capital demand for money:'
Jennifer S.
Recommended Textbooks
Elementary and Intermediate Algebra
Algebra and Trigonometry
18,000,000+
Students on Numerade
Trusted by students at 8,000+ universities
Watch the video solution with this free unlock.
EMAIL
PASSWORD