The transactions approach to measuring money relies on the role of money primarily as a
A. temporary store of value.
B. standard of deferred payment.
C. unit of account.
D. medium of exchange.
Answer: D
You might also like to view...
Use the following table to answer the question below.Alexandra's Production Possibilities ScheduleNatalia's Production Possibilities ScheduleNumber of Scarfs Knitted per dayNumber of Sweaters Knitted per dayNumber of Scarfs Knitted per hourNumber of Sweaters Knitted per hour040433236242916112080What is the minimum a scarf would be traded for in this example?
A. 1/3 of a sweater B. 2 sweaters C. 1/2 of a sweater D. 3 sweaters
The BP schedule shows the combinations of the interest rate and income
a. that clear the goods market. b. that leads to equilibrium in the balance of payments. c. that equate supply and demand in the foreign exchange market at a given exchange rate. d. and is always positively sloped. e. both b and d.
In a perfectly competitive market, the market demand curve is horizontal
a. True b. False
After a depreciation of the home currency, what is the situation with a nation's external wealth?
A) It will rise if external liabilities exceed external assets. B) It will fall if external liabilities exceed external assets. C) It will rise if domestic liabilities exceed domestic assets. D) It will fall if domestic liabilities exceed domestic assets.