Which statement is not correct?      A. Money is a legal tender since the law requires a lender to accept money in the repayment of debts.   B. Money as a store of value can be held and exchanged later for goods and services.   C. In its role as a medium of exchange, money makes exchanges easier by reducing transactions costs.   D. The demand for money represents the idea that there is a positive relationship between the interest rate and the quantity of money demanded.   E. none of the above

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
icon
Related questions
Question
Which statement is not correct? 
 
 
A. Money is a legal tender since the law requires a lender to accept money in the repayment of debts.
 
B. Money as a store of value can be held and exchanged later for goods and services.
 
C. In its role as a medium of exchange, money makes exchanges easier by reducing transactions costs.
 
D. The demand for money represents the idea that there is a positive relationship between the interest rate and the quantity of money demanded.
 
E. none of the above
Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Paper Money
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
Economics
ISBN:
9780190931919
Author:
NEWNAN
Publisher:
Oxford University Press
Principles of Economics (12th Edition)
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (MindTap Course List)
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Managerial Economics: A Problem Solving Approach
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-…
Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education