MONEY REDUCES TRANSACTION COSTS, ALLOWING PEOPLE TO SPECIALIZE IN...

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

53) Money reduces transaction costs, allowing people to specialize in what they do best. Money,

therefore,

(a) encourages greed and avarice.

(b) improves economic efficiency.

(c) frustrates exchange.

(d) only (a) and (b) of the above.

(e) only (b) and (c) of the above.

Answer: B