Two essential elements of any monetary system are the establishment of i. an accepted means ofpayment. ii. a stable commodity to back the means of payment. iii. a unit of account.○ a.both ii and iiiO b. both i and iiO c. both i and iii

1. Accepted Means of Payment:Imagine a world without money. Trading everything would be…

Answered: Two essential elements of any monetary…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Two essential elements of any monetary system are the establishment of i. an accepted means of payment. ii. a stable commodity to back the means of payment. iii. a unit of account. ○ a. both ii and iii O b. both i and ii O c. both i and iii