Money Eliminates the Need for a Coincidence of Wants in Trading

question 38

Multiple Choice

Money eliminates the need for a coincidence of wants in trading primarily through its role as a:

• A) Unit of account
• B) Medium of exchange
• C) Store of value
• D) Medium of deferred payment

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Definitions:

Commercial Sanctions

Penalties imposed by one country or a coalition of countries against another for economic reasons, often to discourage certain policies or activities.

Hamilton's Financial Programs

A series of measures proposed by Alexander Hamilton, the first U.S. Secretary of the Treasury, aimed at stabilizing the American economy after the Revolutionary War, including the establishment of a national bank.

Amendment

An Amendment is a formal change or addition proposed or made to a legal document, particularly constitutions, statutes, and contracts, to improve, clarify, or update its content.

Washington

The capital city of the United States, named after George Washington, and serving as the seat of the federal government.