The value of money or income in terms of the quantity of goods the money can buy is called its
A) real value.
B) marginal value.
C) nominal value.
D) implicit value.

Question

Quizplus · Accepted Answer

Real value refers to the purchasing power of a currency, while nominal value refers to the face value of the currency. Therefore, the value of money in terms of the goods it can buy is its real value. Marginal value refers to the additional benefit gained by consuming one more unit of a good or service, and implicit value refers to the non-monetary value placed on something, such as emotional satisfaction.

The Value of Money or Income in Terms of the Quantity