In order for any given commodity to be considered money, it has to
A) be issued and controlled by some governmental institution.
B) have some intrinsic value.
C) be generally acceptable as a means of payment.
D) be used in barter transactions.
E) be convertible into gold or silver.
C
You might also like to view...
Using the above figure, suppose there is a decrease in the number of suppliers. Then
A) the equilibrium price will decrease below $25 per dozen roses. B) we cannot predict what will happen to equilibrium quantity. C) the equilibrium quantity will decrease below 10 dozen roses. D) both the equilibrium price and quantity will increase.
Open-hearth technology quickly replaced the Bessemer converter in the steel industry. This is an example of Schumpeter's creative destruction process
Indicate whether the statement is true or false
Which of the following government entities relies most heavily on sales taxes?
a. local government b. state government c. federal government d. the Social Security Administration
Microeconomics is the study of how households and firms make decisions and how they interact in specific markets
a. True b. False Indicate whether the statement is true or false