As the Payments System Evolves from Barter to a Monetary

question 73

Multiple Choice

As the payments system evolves from barter to a monetary system,

• A)commodity money is likely to precede the use of paper currency.
• B)transaction costs increase.
• C)the number of prices that need to be calculated increase rather dramatically.
• D)specialization decreases.

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Definitions:

Four-Year Institution

An educational establishment that offers bachelor's degrees and typically requires four years of full-time study.

Public University

An institution of higher education and research which is supported by public funds and usually affiliated with a national or state government.

High-Stakes Testing

Evaluation methods where the results have significant consequences for the test-taker, such as standardized tests for college admission or professional certification.

Hormonal Increases

A rise in the levels of hormones in the body, typically associated with various stages of development, responses to stress, or health conditions.