Suppose you purchase a bottle of vitamin water with a price of $3.The price of $3 best reflects the function of money as a ________,and when you take $3 out of your wallet to purchase the bottle,money is functioning as a ________.

Question

Quizplus · Accepted Answer

The price of $3 reflects the function of money as a unit of account, as it is used to measure the value of goods and services. When the $3 is taken out of the wallet to purchase the bottle, money is functioning as a medium of exchange, as it is being used to facilitate the transaction.

Suppose You Purchase a Bottle of Vitamin Water with a Price