Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 22 Jul 2017 My Price 7.00

economic efficiency

1) Which of the following statements best explains how the use of money in an economy increases economic efficiency?

A) Money increases economic efficiency because it is costless to produce.

B) Money increases economic efficiency because it discourages specialization.

C) Money increases economic efficiency because it decreases transactions costs.

D) Money cannot have an effect on economic efficiency.

2) When economists say that money promotes ________, they mean that money encourages specialization and the division of labor.

A) bargaining

B) contracting

C) efficiency

D) greed

3) Money ________ transaction costs, allowing people to specialize in what they do best.

A) reduces

B) increases

C) enhances

D) eliminates

Answers

Maurice Tutor
(5)
Status NEW Posted 22 Jul 2017 10:07 AM My Price 7.00

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