Which of the Following Statements Is False

question 21

Multiple Choice

Which of the following statements is false?

• A) Money is the only good that can (or does)serve as a store of value.
• B) In a barter economy,there is no good that serves as a unit of account.
• C) There are higher transaction costs of making exchanges in a barter economy than in a money economy.
• D) Money functions as a medium of exchange,unit of account,and store of value.

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Definitions:

Cognitions

Mental processes involved in acquiring knowledge and understanding through thought, experience, and the senses, including perception, thinking, and memory.

Role Playing

Role playing involves adopting and acting out the role of a character or persona, often in a therapeutic, educational, or training context, to explore different perspectives or behaviors.

Attitude Change

The process by which an individual's viewpoint or feelings towards a subject are altered.

Effort Justification

A special case of cognitive dissonance: inconsistency is experienced when a person makes a considerable effort to achieve a modest goal.