Moneys 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) medium of exchange.
C) standard of deferred payment.
D) unit of account.
B
You might also like to view...
Which of the following most accurately describes changes in life expectancy?
a. Life expectancy was relatively low until 1750, after which it increased rapidly. b. Life expectancy has increased steadily during the past 6,000 years. c. Life expectancy was low until after World War II, after which it increased very quickly. d. Life expectancy has exhibited significant cyclical patterns of growth and decline.
The marginal cost of a vacation in the south of France is $4,500 . The marginal benefit to Madeline of a vacation in the south of France is $4,800. a. Madeline will lose $300 if she vacations in the south of France
b. Madeline will experience a net gain of $300 if she vacations in the south of France. c. Madeline will be worse off if she vacations in the south of France. d. Madeline will enjoy a net gain of $4,800 if she vacations in the south of France.
Cannon Mills used to be virtually the only employer in Kannapolis, North Carolina. What is the name for a single hirer of labor, and how do wages and the number of jobs available compare to a competitive labor market?
In recent years, the largest trading partners of the United States have been
What will be an ideal response?