Money Is Any Item That

question 53

Multiple Choice

Money is any item that

• A) serves as a medium of exchange for goods and services.
• B) can be converted into silver with relatively little loss in value.
• C) can be converted into gold with relatively little loss in value.
• D) facilitates a connecting link between credit instruments and debt instruments.

---

Definitions:

Budget

A financial plan outlining expected revenues and expenditures for a specific period, used by individuals, businesses, and governments.

Political Appointee

An individual who has been selected for a governmental position, typically within the executive branch, based on their political affiliation or connections, rather than a career civil servant.

Civil Servant

A person employed in the public sector on behalf of a government department or agency.

Bureaucracy

A governmental system where the majority of decisions are taken by public officials instead of representatives chosen through elections.