When a Nation's Official Money Fails to Serve as a Medium

question 142

Multiple Choice

When a nation's official money fails to serve as a medium of exchange,

• A)nothing will replace money to help facilitate exchange
• B)there will be an increase in economic efficiency
• C)resources must be diverted from production to exchange
• D)transactions costs of exchange will decrease
• E)fewer barter exchanges will be completed

---

Definitions:

Real Estate

Property consisting of land or buildings, and any natural resources or rights associated with it.

Business Activities

Actions or tasks performed by businesses that are intended toward the production of goods or services, financial gain, or organizational growth.

Firm Offer

In contract law, an offer that explicitly states it will remain open for a specified period of time, during which it cannot be revoked by the offeror.

Irrevocable

Something that cannot be changed, revoked, or undone once established or agreed upon.