Gold Is a Perfect Medium of Exchange and Measure of Value

question 76

Multiple Choice

Gold is a perfect medium of exchange and measure of value because of its:

• A) divisibility, portability, and homogeneity.
• B) divisibility and durability.
• C) durability and relative scarcity.
• D) durability and homogeneity.
• E) divisibility, durability, and relative scarcity.

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Definitions:

Cash Budget

A financial plan that estimates cash inflows and outflows over a specific period of time, often used for managing company liquidity.

Timing

The act of selecting an appropriate point or period in time to execute a particular action, often with the goal of maximizing benefit or minimizing cost.

Amount

The total sum or quantity of something, often specified in terms of money or units.

Interest

The cost of borrowing money, usually expressed as a percentage of the amount borrowed.