If Money Were Not Used as a Medium of Exchange

question 41

Multiple Choice

If money were not used as a medium of exchange,

• A) the gains from trade would be severely limited.
• B) our standard of living would probably improve.
• C) the transaction costs of exchange would be lower.
• D) economic efficiency would increase.

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Definitions:

Obtunded

A state of consciousness characterized by reduced alertness and a dull awareness of the environment, often seen in medical conditions.

Vigorous Stimulation

Intense or forceful actions or interventions aiming to elicit a response, typically used in emergency or therapeutic contexts.

Decision Making

The process of making choices or conclusions about situations, actions, or strategies based on available information and analysis.

Neurosurgical Emergency

An urgent medical condition involving the brain, spinal cord, or nerves requiring immediate neurosurgical intervention.