Electro City, a retailer of electronics, has 2,000 different products in inventory. Electro City reports its inventory is worth $12 million. This is an example of using money as a
A) medium of exchange.
B) unit of account.
C) standard of deferred payment.
D) store of value.
Correct Answer:
Verified
Q5: When you pay $8 for salad you
Q6: When the manager of a department store
Q7: Money is
A) the same as income.
B) anything
Q8: When you keep your savings in a
Q9: The main disadvantage of using money as
Q11: Any transaction that involves exchanging one good
Q12: The U.S. dollar is an example of
Q13: A currency that is not backed by
Q14: Veronica received a federal income tax refund
Q15: The development of money as a medium
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