In Explaining the Evolution of Money, ________

question 59

Multiple Choice

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 cheques

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Definitions:

Ethnic Group

A group of individuals forming a population with shared cultural heritage or ancestry.

Self-Fulfilling Prophecy

A prediction or expectation about a situation or behavior that leads individuals to act in ways that make the prediction come true.

Aboriginal Employee

A worker identified as being native or original to a particular region, often reflecting specific hiring considerations or policies.

Competence

Refers to having the necessary ability, knowledge, or skill to do something successfully or efficiently.