WHICH OF THE FOLLOWING ARE TRUE STATEMENTS

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

26) 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 reducing the

cost to those who wish to specialize.

(c) The conversion of a barter economy to one that uses money does not increase economic

efficiency.

(d) All of the above are true.

Answer: B

Question Status: Previous Edition