Question:

The essential condition for an asset to act as money is that it is?

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A. generally accepted as a means of payment;

B. backed by gold or foreign exchange

C. legal tender

D. all of the above?

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2 ANSWERS


  1. A. generally accepted as a means of payment;

    Question #12 and answer key

    http://www.hinduonnet.com/businessline/2...


  2. Generally accepted as a means of payment (its medium of exchange function).

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