Which of the following defines the "medium of exchange" function of money?
a. To provide a common measurement of the relative value of different goods and services.
b. The ability of money to hold value over time.
c. The materials used manufacture money are of medium grade so that people will not hoard money for its commodity value.
d. Money that is widely accepted in exchange for goods and services.
d
Economics
You might also like to view...
An unregulated market economy provides material wealth but does not generate effective control of environmental damage.
Answer the following statement true (T) or false (F)
Economics
Checking accounts that pay interest are included in the:
A. "demand deposits" part of M1. B. "other checkable deposits" part of M1. C. "savings deposits" part of M2. D. "money market mutual funds deposits" part of M2.
Economics