Money's Function as a Medium of Exchange Is Important Because

question 129

Multiple Choice

Money's function as a medium of exchange is important because:

• A) if there were no money, there would be no common unit of account.
• B) if there were no money, society's wealth would be zero.
• C) it eliminates the need for inefficient barter.
• D) if there were no money, exchanges would be impossible.

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Definitions:

Valid Argument

A logical sequence of statements where if the premises are true, the conclusion must also be true.

Prejudged

To make a decision or form an opinion about something or someone in advance, without sufficient evidence or through bias.

Worthy of Friendship

A term used to describe individuals or entities that possess qualities making them desirable or valuable as friends.

Virtuous

Having or showing high moral standards, including traits such as integrity, courage, and honesty.