Question
Consider the following statement: "Economists always put things into monetary terms; as a result, economics can most appropriately be called the study of money."Is this true or false? Briefly explain your reasoning.
Step 1
Step 1: Understand the statement The statement claims that economists always express concepts in monetary terms, and therefore, economics should be considered the study of money. Show more…
Show all steps
Your feedback will help us improve your experience
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
Consider the following statement: "Economists always put things into monetary terms; as a result, economics can most appropriately be called the study of money." Is this statement true or false? False, even though economists use monetary terms often, economics is better described as a governmental approach to improving market outcomes. False, economists use monetary terms because they can be quantified and compared, but economics is better described as an approach to decision making. False, even though economists use money as a form of measurement, economics is better described as the study of financial markets. True, financial markets are the primary focus of economics.
Transcript
Watch the video solution with this free unlock.
EMAIL
PASSWORD