Questions
252 EC301 Principles of Macroeconomics
Single choice
What is the main reason why countries use money instead of bartering today?
Options
A.a. Money is more difficult to use
B.b. Money makes trading easier and faster
C.c. Money is only good for rich people
D.d. Money is not accepted everywhere
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Step-by-Step Analysis
The question asks for the main reason why countries use money instead of bartering today.
Option a: 'Money is more difficult to use' This is inaccurate because the widespread adoption of money is tied to its practicality and ease of use, not to greater difficulty. Bartering tends to be cumbersome because it requires a......Login to view full explanationLog in for full answers
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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.
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