The functions of money are to serve as a
A) resource allocator, method for accounting, and means of income distribution.
B) unit of account, store of value, and medium of exchange.
C) determinant of consumption, investment, and government spending.
D) factor of production, exchange, and aggregate supply.

Question

Quizplus · Accepted Answer

The functions of money are commonly cited as being a unit of account (allowing for standardization in economic transactions), store of value (allowing for retention of purchasing power over time), and medium of exchange (allowing for the ease of transactions).

The Functions of Money Are to Serve as a