Quiz

Question 3 (1 point) Money is: O the set of all assets that are regularly used to directly purchase goods and services. represented by the amount of dollars and coins in our economy. C controlled by the supply and demand of goods and services on which our money is spent. O All of these are true. Question 4 (1 point) The main reason barter is extremely inefficient is that: O you have to find someone who both has what you want and wants what you have. Ob it can have very low transactions costs associated with it. O c people and firms have to spend a short amount of time looking for mutually agreeable trades. All of these are true. Question 5 (1 point) An example of a good that can be used for money that has no intrinsic value is: O gold. O paper dollar bills. O C cigarettes. O None of these has intrinsic value