Which of the following conditions make a good suitable for use as a medium of exchange?...
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Which of the following conditions make a good suitable for use as a medium of exchange? OA. The good must be acceptable to (that is, usable by) most buyers and sellers. B. The good should be durable, valuable relative to its weight, and divisible. C. The good should be of standardized quality, so that any two units are identical. D. All of the above conditions must be met. What is fiat money? A. money that has value independent of its use as money B. money that is authorized by a central bank and that does not have to be exchanged for gold or some other commodity money C. an asset that has the ability to be easily converted into the medium of exchange D. money issued by financial intermediaries, such as banks, but not the central bank Which of the following conditions make a good suitable for use as a medium of exchange? OA. The good must be acceptable to (that is, usable by) most buyers and sellers. B. The good should be durable, valuable relative to its weight, and divisible. C. The good should be of standardized quality, so that any two units are identical. D. All of the above conditions must be met. What is fiat money? A. money that has value independent of its use as money B. money that is authorized by a central bank and that does not have to be exchanged for gold or some other commodity money C. an asset that has the ability to be easily converted into the medium of exchange D. money issued by financial intermediaries, such as banks, but not the central bank
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Related Book For
Auditing and Assurance Services
ISBN: 978-0077862343
6th edition
Authors: Timothy Louwers, Robert Ramsay, David Sinason, Jerry Straws
Posted Date:
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