Which of the Following Sequences Accurately Describes the Evolution of the Payments

question 35

Multiple Choice

Which of the following sequences accurately describes the evolution of the payments system?

• A) Barter, coins made of precious metals, paper currency, checks, electronic funds transfers
• B) Barter, coins made of precious metals, checks, paper currency, electronic funds transfers
• C) Barter, checks, paper currency, coins made of precious metals, electronic funds transfers
• D) Barter, checks, paper currency, electronic funds transfers

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Definitions:

Marginal Product

The increase in output that results from employing one more unit of a particular factor of production, holding all else constant.

Radios

Electronic devices designed to receive and amplify audio broadcasts from radio stations, allowing for the wireless transmission of music, news, and other types of content.

Manufacture

The process of producing goods through the use of machinery, tools, and labor, often on a large scale.

Productivity Growth

An increase in the efficiency of production, often measured by the ratio of output to inputs over a specific period.