Money is defined as A. bills of exchange.
B B. anything that is generally accepted in payment for goods and services or in the repayment of debt. C. a riskless repository of spending power. D. the unrecognized liability of governments. Evidence from the United States and other foreign countries indicates that A A. there is a strong positive association between inflation and the growth rate of money over long periods of time. C. countries with low monetary growth rates tend to experience higher rates of inflation, all else constant.