29.3k views
0 votes
acccording to lecture, which is an example of a general-purpose money? group of answer choices dollar bills in the us shell necklaces in the trobriands cattle in the maasai banana bundles in the trobriands all are considered general purpose monies

1 Answer

2 votes

Final answer:

Dollar bills in the United States are an example of general-purpose money because they can be exchanged for a wide array of goods and services across the entirety of the country.

Step-by-step explanation:

General-purpose money is a medium of exchange used to transact for a wide array of goods and services within a society. The characteristic that sets general-purpose money apart is its wide acceptability. Examples of this type of money include dollars, euros, pesos, yen, and bitcoin, which can be used to buy a vast spectrum of items, from basic necessities to luxury goods.

On the other hand, special-purpose money is limited to specific transactions or occasions, such as bridal payments or in certain ceremonial contexts; it is not meant for general commerce. Looking at the student's choices, dollar bills in the United States fit the description of general-purpose money, as they are recognized and used across the country for exchanging a variety of goods and services.

User Corinne
by
7.3k points