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4 January, 14:30

Which of the following best defines "medium of exchange"?

A. something with a fixed value that we use for exchange

B. a way to determine what is the best deal

C. the average value exchange of a single good or service

D. a monetary rate that stays constant

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Answers (1)
  1. 4 January, 17:27
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    I find the first option best.

    B. even if something is a best deal - we might not be able to get it, so exchange might not even take place.

    C. this would not be a "medium"

    D. - well, there isn't such a rate, is there?

    So, answer A is really the best - and I think it's also a good definiton
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