Author Question: A good can serve as money only if A) citizens accept the good as a means of payment for ... (Read 55 times)

ghost! · **on:** Jun 29, 2018

A good can serve as money only if

A) citizens accept the good as a means of payment for transactions and debts.
B) government mandates that the good must be accepted in payment of debts.
C) it is declared by authorities to be legal tender.
D) it has intrinsic value or if it is backed by precious metals.

Question 2

Assume that the hourly price for the services of personal trainers has risen and sales of these services have also risen. One can conclude that

A) the demand for personal trainers has increased.
B) personal trainers are deliberately charging high prices because they provide services for wealthy clients.
C) the number of personal trainers has increased.
D) the law of demand has been violated.