Money performs several functions, but first and foremost it is a Blank ______. BlackTom题目解析Single choice
A
medium of exchange
B
market
C
necessary evil
D
bartered good
E
resource
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When you purchase school supplies at the book store using cash, you are using money as a medium of exchange.
Part 1In prison, cigarettes are sometimes used among inmates as a form of payment. All of the following explain how cigarettes solve the "double coincidence of wants" problem, even if a prisoner does not smoke, except: A. cigarettes serve as a medium of exchange. B. prisoners can exchange cigarettes for other goods and services. C. exchanging cigarettes for other goods and services increases transaction costs. D. cigarettes are widely accepted as a form of payment in prison.
Part 1In prison, cigarettes are sometimes used among inmates as a form of payment. All of the following explain how cigarettes solve the "double coincidence of wants" problem, even if a prisoner does not smoke, except: A. cigarettes are widely accepted as a form of payment in prison. B. prisoners can exchange cigarettes for other goods and services. C. cigarettes serve as a medium of exchange. D. exchanging cigarettes for other goods and services increases transaction costs.
What is the main reason why countries use money instead of bartering today?
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