The function of money that expresses prices and contracts for deferred payments in terms of the monetary unit is referred to as:

a. store of purchasing power
b. standard of value
c. medium of exchange
d. credit money

Answer: b. standard of value

Business

You might also like to view...

The purpose of capitalization is to estimate

A) present value based on current or expected income B) future value based on current gross income C) present value by multiplying net income by rent multiplier D) operating expenses based on the highest and best use

Business

The introduction of diet coke by the Coca Cola Company is an example of ________

A) line extension B) brand harmonization C) category extension D) brand dilution E) co-branding

Business