Money's primary role in the economy comes from the benefits of lowering transactions costs and allowing specialization. This function of money is called

a. store of value
b. unit of account.
c. standard of deferred payment.
d. medium of exchange.


Answer: d. medium of exchange.

Economics

You might also like to view...

If the fixed costs for a firm rise what will be the impact on the marginal cost, average variable cost and average total cost curves? Explain

What will be an ideal response?

Economics

The health care system currently in place will be dramatically changed in the next four years.

A. True B. False C. Uncertain

Economics

Over-the-Rhine Cheese Corporation had a P/E ratio of 20, retained earnings of $0.80 per share and a dividend of $1.70 . What was its dividend yield?

a. 1.25%. b. 5.0%. c. 3.4%. d. 10.6%.

Economics

Which of the following would cause movement along an aggregate demand curve, all other things being held constant?

a. a price level hike b. a wage level hike c. a change in disposable income d. a change in consumer confidence

Economics