question 1

Which of the following is an example of medium of exchange? 0 A restaurant lists a price for dinner in gold coins. People invest in gold because it stays stable over time and does not tarnish, rust or deteriorate. People in the Pacific Islands used cowrie shells as a form of payment for the things they wanted. A chicken farmer who wants a cow needs to find a cattle farmer who wants some chickens. Which of the following is NOT a step in the development of the gold standard? 0 Banks emerged as depositories. People wrote checks that could transfer ownership of gold without removing it from the vault. 0 Banks began to print paper money. Gold functioned in limited ways; its primary use was in makingjewelry