In What Sense Do Self-Fulfilling Expectations Determine the Acceptability of a Medium

question 11

Multiple Choice

In what sense do self-fulfilling expectations determine the acceptability of a medium of exchange?

• A)People like to do what the government expects them to do.
• B)People value something as money only if they believe others will accept it from them as payment.
• C)People expect that money will never lose its value.
• D)People expect that eventually every country will use the same medium of exchange.

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Definitions:

Assumption

A statement accepted as true without proof, often forming the basis of an argument or hypothesis.

MT

Modus Tollens, a form of logical argument or a rule of inference allowing one to deduce a conclusion from a hypothetical proposition and its denial.

Add

In context, add might not be a specific key term without further context; it typically means to combine or sum quantities in mathematics.

Assumption

Something presumed to be true or certain to occur, even without evidence.