Naked Economics: Undressing the Dismal Science Book by Charles Wheelan Please refer to the chapter 10 titled, "The Federal Reserve," in the Naked Economics book to answer this question. Which of the below statements DOES NOT CORRECTLY capture the meaning of the word "money" as economists use the term, and as Charles Wheelan explains the term in this chapter? A) Whatever serves as money must be available in abundance, and must not be scarce. B) It serves as a medium of exchange, something that facilitates trade and transactions. C) It serves as a unit of account, so that the costs of all kinds of goods and services can be measured can be compared using one scale. D) Whatever serves as money must be portable and durable.
Naked Economics: Undressing the Dismal Science Book by Charles Wheelan Please refer to the chapter 10 titled, "The Federal Reserve," in the Naked Economics book to answer this question. Which of the below statements DOES NOT CORRECTLY capture the meaning of the word "money" as economists use the term, and as Charles Wheelan explains the term in this chapter? A) Whatever serves as money must be available in abundance, and must not be scarce. B) It serves as a medium of exchange, something that facilitates trade and transactions. C) It serves as a unit of account, so that the costs of all kinds of goods and services can be measured can be compared using one scale. D) Whatever serves as money must be portable and durable.
Chapter13: The Federal Reserve System
Section: Chapter Questions
Problem 5QP
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Naked Economics: Undressing the Dismal Science Book by Charles Wheelan
Please refer to the chapter 10 titled, "The Federal Reserve," in the Naked Economics book to answer this question. Which of the below statements DOES NOT CORRECTLY capture the meaning of the word "money" as economists use the term, and as Charles Wheelan explains the term in this chapter?
A) Whatever serves as money must be available in abundance, and must not be scarce.
B) It serves as a medium of exchange, something that facilitates trade and transactions.
C) It serves as a unit of account, so that the costs of all kinds of goods and services can be measured can be compared using one scale.
D) Whatever serves as money must be portable and durable.
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