THE EVOLUTION OF THE PAYMENTS SYSTEM FROM BARTER TO PRECIOUS METAL...

99) The evolution of the payments system from barter to precious metals, then to fiat money, then to

checks can best be understood as a consequence of

(a) innovations that allowed individuals to escape oppressive taxes.

(b) the fact that precious metals were not generally acceptable.

(c) the fact that precious metals were difficult to carry and transport.

(d) the fact that paper money is less accepted than checks.

(e) the fact that paper more costly to produce than precious metals.

Answer: C

Question Status: Study Guide