WHICH OF THE FOLLOWING ARE TRUE STATEMENTS

25) - TEST BANK CHAPTER 3 WHAT IS MONEY? TÀI CHÍNH TIỀN TỆ
TEST BANK CHAPTER 3 WHAT IS MONEY? TÀI CHÍNH TIỀN TỆ

25) Which of the following are true statements?

(a) The conversion of a barter economy to one that uses money increases efficiency by increasing

the cost of exchange.

(b) The conversion of a barter economy to one that uses money increases efficiency by increasing

the cost to those who wish to specialize.

(c) The conversion of a barter economy to one that uses money increases efficiency by reducing

transactions costs.

(d) All of the above are true.

Answer: C

Question Status: Previous Edition