An Economy Using Money Is More Efficient That a Barter

question 58

True/False

An economy using money is more efficient that a barter economy because the use of money reduces the time spent searching for trading partners with a coincidence of wants and therefore more time can be spent producing goods and services.

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Definitions:

U.S. Dollar

The official money of the United States, commonly utilized as a standard and reserve financial instrument globally.

Imports

refer to goods or services purchased from other countries, which are brought into a country to meet domestic demand or for further processing.

Exports

Goods or services produced in one country and sold to buyers in another, contributing to a nation's gross domestic product.

United States

A country in North America comprising 50 states and a federal district, known for its significant global economic and political influence.