What are the four functions of money? Can something be considered money if it does not fulfill all four functions?
What will be an ideal response?
The four functions are medium of exchange, unit of account, store of value, and standard of deferred payment. In the long run, something will not serve as money if it does not fulfill all four functions.
Economics
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Which of the following U.S. Treasury securities represents ownership of the national debt?
a. Bonds owned by the banks and insurance companies. b. Bonds owned by private individuals. c. Bonds owned by foreigners. d. All of these.
Economics
For a normal good, the substitution and income effects of a price decrease work in the same direction to increase the quantity demanded of that good
a. True b. False
Economics