Which of the Following Is the Best Definition of Money

question 151

Multiple Choice

Which of the following is the best definition of money?

• A)​anything generally accepted as a payment for goods or repayment of debt
• B)​anything that is a liability of the federal government
• C)​anything that is a liability of a commercial bank
• D)​coins and currency in the hands of the public

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Definitions:

Object Permanence

Piaget’s term for the understanding that a person or object still exists when out of sight.

Centration

In Piaget’s theory, the tendency of preoperational children to focus on one aspect of a situation and neglect others.

Socioeconomic Status

A measure of an individual's or family's economic and social position in relation to others, based on income, education, and occupation.

Deferred Imitation

Piaget’s term for reproduction of an observed behavior after the passage of time by calling up a stored symbol of it.