Answer to Question #231434 in Macroeconomics for MacroStudent

Question

Which of the following is correct in respect of “money as a medium of exchange”:

 

1. Money facilitates the exchange of goods. 
2. Money reduces or eliminates the need for barter. 
3.  Money is an object that sellers will accept as payment.

only iii is correct

only i is correct.

i, ii and iii are correct.

only i and ii are correct.

Answer 1

i, ii and iii are correct.