Economists use the term money to refer to:
A) income.
B) profits.
C) assets used for transactions.
D) earnings from labor.

Question

Quizplus · Accepted Answer

Economists use the term money to refer to assets used for transactions, such as cash, bank deposits, and digital currency. Money is the means of exchange that facilitates transactions in an economy.

Note: Income, profits, and earnings from labor are all sources of money for individuals, but economists refer to money as the assets used for transactions in the broader economy.

Economists Use the Term Money to Refer To