Which of the Following Is the Best Example of Money

question 12

Multiple Choice

Which of the following is the best example of money used as a medium of exchange?

• A) In a prisoner of war camp cigarettes are traded for socks, candy and/or food, even by nonsmokers.
• B) A plumber unclogs a drain for a carpenter, who repairs broken steps for the plumber.
• C) A farmer stores $100 dollar bills in a strong box under the floor in a barn.
• D) Prices of products in a store in Mexico are marked in terms of U.S. dollars.

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Definitions:

Milgram Experiment

A psychological experiment conducted by Stanley Milgram in the 1960s to study obedience to authority, where participants were instructed to administer electric shocks to another person.

Stanford University Prison Experiment

A psychological study conducted by Philip Zimbardo in 1971 at Stanford University, where students were assigned roles of prisoners and guards to explore the effects of perceived power.

Generalization

Drawing a conclusion about a certain characteristic of a population based on a sample from it.

Logical Support

The provision of reasons or evidence to justify a claim or argument.