When Something Is Generally Accepted as a Means of Payment

question 146

Multiple Choice

When something is generally accepted as a means of payment, such as grain in many traditional societies, we say that this represents

• A)money as a medium of exchange.
• B)money as a store of value.
• C)money as a unit of wealth.
• D)an inflationary danger.
• E)a government opportunity for social control.

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Definitions:

Unemployment Rate

The portion of employment-seeking individuals in the workforce who are presently without a job.

Random Sample

A sampling method where each member of a population has an equal chance of being selected, minimizing bias and making the sample representative of the population.

Statistics Canada

The national statistical office of Canada, which provides economic, social, and census data.

Alpha

In statistics, alpha represents the level of significance, the probability of rejecting a true null hypothesis.