Which of the following is the best definition of money?
A) anything generally accepted as a payment for goods or repayment of debt
B) anything that is a liability of the federal government
C) anything that is a liability of a commercial bank
D) the outstanding balances of households on credit cards

Question

Quizplus · Accepted Answer

Money is anything generally accepted as a payment for goods or repayment of debt. This includes currency, checks, and electronic forms of payment. Money serves as a medium of exchange, a unit of account, and a store of value.

Which of the Following Is the Best Definition of Money