Which of the following criteria would make gold a poor medium of exchange?
A) Its value depends on its purity and its purity is not easy to visibly identify.
B) Durability so that value is not lost by spoilage.
C) Value relative to its weight so that amounts large enough to be useful in trade can be easily transported.
D) Divisibility because different goods are valued differently.
Correct Answer:
Verified
Q25: A 'good' is more likely to be
Q26: What is 'commodity money'? Give an example.
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Q28: Paper currency:
A)is commodity money.
B)is fiat money.
C)is barter
Q29: Which of the following is not one
Q31: 'Fiat money':
A)has no or very little value
Q32: List the five criteria necessary in order
Q33: Among potential stores of value, money:
A)offers the
Q34: Why must money serve as a store
Q35: Governments in the world today issue fiat
Q235: What are the functions of money?
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