In which form of exchange are goods used as medium of exchange?

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Accepted Answer

1. Definition: A medium of exchange is something accepted in payment for goods or services.

2. Evaluate options:
- (1) Online exchange: an electronic platform; medium is usually digital money or records, not goods.
- (2) Credit exchange: involves deferred payment or credit; medium is promise to pay, not goods.
- (3) Currency exchange: involves money (currency) as the medium of exchange.
- (4) Barter exchange: direct exchange of goods for goods; here goods themselves serve as the medium.

3. In barter the transaction is directly $G \leftrightarrow G'$ (goods for goods), so goods are used as the medium of exchange.

FINAL_ANSWER: d

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