When an asset enables people to transfer purchasing power into the future,it serves the function of a ________.
A) store of value
B) unit of account
C) medium of exchange
D) measure of inflation

Question

Quizplus · Accepted Answer

A store of value refers to an asset that can be stored and retrieved at a later point in time while maintaining its purchasing power. This means that it allows people to transfer purchasing power into the future, as stated in the question. The other options are not applicable in this context. A unit of account refers to a standard unit of measurement used to express the value of goods and services. A medium of exchange refers to any instrument that is accepted as a means of payment for goods and services. A measure of inflation refers to an index that tracks the rate at which prices of goods and services are rising over time.

When an Asset Enables People to Transfer Purchasing Power into the Future,it