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6 November, 14:10

Which of the following statements is true? a. Money must be relatively "scarce" if it is to have value. b. Money must be divisible and portable. c. M1 is the narrowest definition of money. d. All of the answers are correct.

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  1. 6 November, 15:17
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    Answer: d

    Explanation:

    All of the answers are correct.

    Money is defined as a legal tender or something which is generally accepted as a means of payment for goods and services. This brings us to the characteristics of money which includes:

    durability, portability, divisibility, uniformity, limited supply, and acceptability. All of these were stated in the options given in the question above hence all the answers are correct.
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Home » Business » Which of the following statements is true? a. Money must be relatively "scarce" if it is to have value. b. Money must be divisible and portable. c. M1 is the narrowest definition of money. d. All of the answers are correct.
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