Economists Use the Term "Money" to Refer to

question 32

Multiple Choice

Economists use the term "money" to refer to

• A)all wealth.
• B)all assets,including real assets and financial assets.
• C)all financial assets,but not real assets.
• D)those types of wealth that are regularly accepted by sellers in exchange for goods and services.

---

Definitions:

Fiduciary

A fiduciary is a person or organization that acts on behalf of another person or persons, putting their clients' interest ahead of their own, with a duty to preserve good faith and trust.

Written Contract

A legally binding agreement between parties that is expressed in written form rather than verbally.

Independent Contractor

An individual or entity contracted to perform work for—or provide services to—another entity as a non-employee, thereby assuming responsibility for his or her own taxes and benefits.

Employee-Contractor

A distinction used to describe the relationship between workers and those who hire them, with employees typically under the control of the employer, and contractors providing services under their own direction.