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Questions and Answers
What are the two primary dimensions in which trust manifests in the concept of money?
What are the two primary dimensions in which trust manifests in the concept of money?
- Government regulations and central bank stability
- Value retention and social structures
- Institutional reliability and interpersonal trust in everyday transactions (correct)
- Currency acceptance and economic development
What ensures that money retains its value and functions effectively as a medium of exchange, a unit of account, and a store of value?
What ensures that money retains its value and functions effectively as a medium of exchange, a unit of account, and a store of value?
- Social structures and economic development
- Direct exchange of goods and services
- Universal acceptance of currency
- Institutional trust underpinned by central banks and government regulations (correct)
What is the belief that the currency received will be accepted universally within the economy?
What is the belief that the currency received will be accepted universally within the economy?
- Economic exchanges
- Interpersonal trust (correct)
- Institutional reliability
- Value retention
What is crucial for facilitating smooth transactions without the need for barter or the direct exchange of goods and services?
What is crucial for facilitating smooth transactions without the need for barter or the direct exchange of goods and services?
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Money's evolution is intertwined with the development of which structures?
Money's evolution is intertwined with the development of which structures?
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