The function of money that enables individuals to exchange goods and services in a common unit of account is called:
A) medium of exchange.
B) store of value.
C) unit of account.
D) measure of power.
A
You might also like to view...
In an open economy, the government deficit is 400 and investment exceeds saving by 300, so in equilibrium the trade deficit (IM ? X) must be
a. 100. b. 200. c. 300. d. 700.
The process utilized to develop financial forecasts and monitor various budgets and costing models is called
a. auditing b. managerial accounting c. budgeting d. forecasting e. none of these
A bilateral exchange rate is an exchange rate:
a. that has two sides: maximal and minimal. b. has exhibited both appreciation and depreciation. c. is a hybrid between fixed and floating. d. between two currencies.
Using Figure 1 above, if the aggregate demand curve shifts from AD2 to AD3 the result in the short run would be:
A. P1 and Y2. B. P2 and Y3. C. P3 and Y1. D. P2 and Y2.