Questions
Single choice
What is the main reason why countries use money instead of bartering today?
Options
A.a. Money is not accepted everywhere
B.b. Money is more difficult to use
C.c. Money is only good for rich people
D.d. Money makes trading easier and faster
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Step-by-Step Analysis
Let's break down each option to understand why they are true or false in the context of why countries use money instead of bartering today.
Option a: 'Money is not accepted everywhere.' This statement highlights a real limitation of bartering systems—lack of universal acceptance. However, it describes a drawback of bartering rather than a primary reason to us......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.
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