When an asset is traded for goods and services,it serves the function of a ________.
A) store of value
B) unit of account
C) loanable fund
D) medium of exchange

Question

Quizplus · Accepted Answer

When an asset is traded for goods and services, it is acting as a medium of exchange. This is because the asset is being used as a form of payment in exchange for the goods and services being received. A store of value refers to an asset that can be saved and used to make purchases in the future. A unit of account is a standard monetary unit that is used to measure the value of goods and services. Loanable funds refer to money that is available for borrowing or lending.

When an Asset Is Traded for Goods and Services,it Serves