A vehicle currency is:
a. contraband-it is used to smuggle other assets into controlled economies.
b. a widely accepted, tradable currency that serves as a currency to use for buying or selling one's own.
c. a currency whose value changes rapidly and erratically.
d. a currency used to purchase imports of autos, buses, and other transportation equipment.
Ans: b. a widely accepted, tradable currency that serves as a currency to use for buying or selling one's own.
You might also like to view...
An individual deposits a certain amount in a bank. The amount deposited is referred to as ________
A) interest B) principal C) installment D) time value of money
When the current U.S. income tax system was instituted in 1913, the rate on the highest tax bracket was _____
a. 28 percent b. 1 percent c. 15 percent d. 7 percent
Suppose the price of an airline ticket from Dallas to Boston costs $600 . A bus ticket costs $150 . Traveling by plane takes 6 hours compared with 51 hours by bus. Other things constant, an individual would gain by choosing air travel if, and only if, his time were valued at more than
a. $6 per hour. b. $8 per hour. c. $10 per hour. d. $15 per hour.
When people in a barter economy began to accept the good that had greater acceptability than all other goods, they weren't trying to create the institution of money. They were simply trying to __________
A) get along with their neighbors. B) become rich. C) make trading easier for themselves. D) pay lower prices. E) none of the above