Without Money to Act as a Medium of Exchange

question 31

Multiple Choice

Without money to act as a medium of exchange,

• A)the standard of living in the economy would increase.
• B)barter exchange would allow for a much simpler yet increased standard of living.
• C)the increased transactions costs associated with trading would prohibit some trades from taking place.
• D)independence in production would lead to a proliferation of new products.
• E)all exchanges that take place under a monetary system would still take place.

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Definitions:

Mental Activities

Activities that involve cognitive functions such as thinking, reasoning, problem-solving, and memory.

Communicating

The process of conveying information or expressing thoughts and feelings between individuals through verbal, non-verbal, or written means.

Male Prejudice

Preconceived opinions or biases directed towards males, often based on stereotypes and societal norms.

Female Prejudice

Bias or discrimination against women based on their gender.