Money’s function as a unit of exchange means that ______.
a. Jorge can compare the value of apples to the value of a new lamp
b. Michael can deposit money into an account where it will be safely stored until a later date.
c. Kelly can pay for her lunch using the $20 bill in her wallet.
d. Calista can pay back a loan at a future date without risking great fluctuations in the value.
c. Kelly can pay for her lunch using the $20 bill in her wallet.
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Suppose that the economy is in the midst of a recession. Which of the following policies would most likely end the recession and stimulate output growth?
A. A congressional proposal to incur a federal surplus to be used for the retirement of public debt. B. Reductions in agricultural subsidies and veterans' benefits. C. Postponement of a highway construction program. D. Reductions in federal tax rates on personal and corporate income.
The four components of aggregate spending are consumption, saving, imports, and taxes.
Answer the following statement true (T) or false (F)