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Economics for Today 9th Edition by Irvin Tucker
Edition 9ISBN: 978-1305507111Economics for Today 9th Edition by Irvin Tucker
Edition 9ISBN: 978-1305507111 Exercise 31
Which of the following defines the "medium of exchange" function of money?
A) To provide a common measurement of the relative value of different goods and services.
B) The ability of money to hold value over time.
C) The materials used to manufacture money are of medium grade so that people will not hoard money for its commodity value.
D) Money that is widely accepted in exchange for goods and services.
A) To provide a common measurement of the relative value of different goods and services.
B) The ability of money to hold value over time.
C) The materials used to manufacture money are of medium grade so that people will not hoard money for its commodity value.
D) Money that is widely accepted in exchange for goods and services.
Explanation
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Money has three important functions whic...
Economics for Today 9th Edition by Irvin Tucker
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