The most important function of money is when money is used as a
A. medium of exchange.
B. standard of deferred payment.
C. store of value.
D. unit of accounting.
Answer: A
You might also like to view...
Which of the following is not a reason for firms to choose a salary system rather than a commission system to compensate their employees?
A) If workers are paid on the basis of the number of units of output they produce, they may become less concerned about quality. B) Commission compensation systems are riskier for employees than a salary system, and many workers dislike risk. C) Research has shown that most companies will find that a salary system will be more profitable than a commission system. D) It is often difficult to attribute output to particular workers.
An increase in the interest rate will
A) decrease the price of bonds. B) increase the price of bonds. C) increase or decrease the price of bonds depending upon whether the money supply has increased or decreased. D) leave the price of bonds unchanged.
Paper money in the United States is in the form of
a. treasury notes b. Federal Reserve notes c. silver certificates backed by silver d. gold certificates backed by gold e. U.S. bank notes
The position of the supply curve in the market for garbage removal
a. is irrelevant since the cost is fixed. b. depends on the marginal cost of garbage removal. c. depends on the demand for garbage removal services. d. is unaffected by taxes levied per household amount of garbage.