The value of your money income, in terms of buying goods and services, is referred to as your money's

Question

Quizplus · Accepted Answer

Purchasing power refers to the value of money in terms of its ability to buy goods and services. It is important to consider purchasing power when assessing the value of income or the impact of inflation. Staying power refers to the ability of funds to last over a certain period of time, rigidity factor is not a term commonly used in economics, and transaction cost refers to the costs associated with buying or selling a particular good or service.

The Value of Your Money Income, in Terms of Buying