Author Question: Which of the following statements is NOT true about money? A) Money can only be coins and paper. ... (Read 88 times)

ahriuashd · **on:** Jun 30, 2018

Which of the following statements is NOT true about money?

A) Money can only be coins and paper.
B) Anything that serves as a medium of exchange, as a unit of accounting, as a store of value, and as a standard of deferred payment can be called money.
C) Money is any medium that is universally accepted by sellers and creditors.
D) Money is a standard of deferred payment.

Question 2

Q: How many economists does it take to screw in a light bulb?
A: None. If the light bulb really needed changing, market forces would have already caused it to happen.
This joke represents the view of

A) Keynesian economists.
B) classical economists.
C) economists who conclude that wages and prices are inflexible.
D) economists who conclude that money illusion is widespread.