The main disadvantage of using money as a store of value is that:
A. other assets pay relatively higher rates of interest than money.
B. other assets provide greater anonymity than cash.
C. barter is a more efficient way to conduct transactions than using money.
D. unlike other assets, money serves as a medium of exchange.
Answer: A
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Classical economists believe that
A) money is neutral. B) an increase in the real money supply affects output. C) inflation is determined by wage growth. D) monetary policy should be used to combat recessions.
Productivity measures: a. how efficiently resources are turned into goods and services
b. how efficiently goods and services are consumed by the consumers. c. the level of skills embodied in a unit of labor. d. the ratio of inputs to a specific amount of output. e. the availability of resources in an economy.