The Evolution of the Payments System from Barter to Precious

question 47

Multiple Choice

The evolution of the payments system from barter to precious metals,then to fiat money,then to checks can best be understood as a consequence of

• A)government regulations designed to improve the efficiency of the payments system.
• B)government regulations designed to promote the safety of the payments system.
• C)innovations that reduced the costs of exchanging goods and services.
• D)competition among firms to make it easier for customers to purchase their products.

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Definitions:

Counter-Analogy

A contrasting comparison used to refute or argue against a previous analogy by highlighting dissimilar aspects.

Analogy Reversal

The process of flipping an analogy to illustrate a point or to create a counterargument.

Opponent

A person or group competing against another in a contest, fight, game, or debate.

Burden Of Proof

The obligation to present evidence to support one's claim or argument in a debate or legal case.