The Set of Items That Serve as Media of Exchange

question 49

Multiple Choice

The set of items that serve as media of exchange clearly includes

• A)balances that lie behind debit cards.
• B)demand deposits.
• C)other checkable deposits.
• D)All of the above are correct.

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Definitions:

Difference Threshold

The least variation in stimulation that an individual is able to recognize 50% of the occasions, commonly termed as the just noticeable difference (JND).

Marginal Intensity

Marginal intensity refers to the change in the level of intensity or satisfaction gained from consuming an additional unit of a resource or performing an additional unit of activity.

Relative Magnitude

The perception or measurement of the size, duration, or intensity of an object or event in comparison to another.

Method of Adjustment

A technique used in psychological experiments where a participant adjusts a variable stimulus until it is perceived as equal to a standard stimulus.