In performing which of its primary functions does money solve the problem of the double coincidence of wants?
A) medium of exchange
B) unit of account
C) store of value
D) barter system
E) money supply
A
You might also like to view...
In the figure above, which of the following represents a money flow?
A) Goods purchased B) Interest C) Capital D) Services sold E) Goods supplied
You are a Canadian citizen who works in Toronto and owns a winter home in Phoenix, Arizona. When you spend the winters in Phoenix, an increase in the value of the Canadian dollar relative to the U.S. dollar should
A) help you as each Canadian dollar of your salary is now worth more U.S. dollars. B) hurt you as each Canadian dollar of your salary is now worth less U.S. dollars. C) hurt you as it is now more expensive to live in Phoenix since the Canadian dollar appreciation. D) help you as it is now less expensive to live in Canada since the Canadian dollar appreciation.