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
You might also like to view...
Crowding out is important only in the classical model
a. True b. False
Which of the following would be the best choice for the government of Paulina if it decides to increase its tax revenue?
a. Taxing a commodity with an elastic supply b. Taxing a commodity with an inelastic supply c. Reducing the tax on a commodity with an elastic demand d. Reducing the tax on a commodity with an inelastic demand
Privatization of government agencies:
A. happens more frequently during recessions. B. has rarely occurred since the 1890s. C. has become less popular since the 1980s. D. has become more popular since the 1980s.
A situation in which output decreases while prices increase is often referred to as:
A. inflation. B. negative economic growth. C. a recession. D. stagflation.