One Point Virtually All Economists Agree on When Defining Money

question 93

Multiple Choice

One point virtually all economists agree on when defining money is that:

• A)​money must be spendable.
• B)​money must be liquid.
• C)​money must be accepted as payment.
• D)​all of the above are correct.

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Definitions:

Human Nature

The inherent characteristics, including ways of thinking, feeling, and acting, that all humans are believed to share.

Underlying Assumptions

Fundamental beliefs or ideas that are taken for granted and support the framework of a theory, argument, or system of thought.

Either-or Thinking

A cognitive distortion that simplifies complex situations into a binary choice, ignoring the nuances and middle ground.

Developmental Stages

Distinct phases of growth and development that an individual passes through from infancy to adulthood.