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

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

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

therefore,

(a) decreases specialization.

(b) improves economic efficiency.

(c) frustrates exchange.

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

Answer: B

Question Status: Previous Edition