Question

Which of the following statements represent a use of money that is not consistent with its definition?

a. "I got some money at the ATM with my debit card."
b. "A bank holds the money of its depositors in its vault."
c. "I will accept either currency or gold as money for the purchase of my house."
d. "I just used my credit card as money to buy a new television."

Answer 1

The correct answer is Option C: i Will accept either currency or gold as money for the purchase of my house, as gold is not use anymore as payment. Eventhough it does still hold a very high value it cannot be used in transaction as payments in the current time.