The Functions of Money Are

question 385

Multiple Choice

The functions of money are

• A) medium of exchange, unit of account, and store of value.
• B) interest rates, prices and output.
• C) M1, M2 or currency.
• D) currency, deposits, and travelerʹs checks.

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Definitions:

Void

A term used to describe something that is not legally enforceable.

Automated Banking System

A digital platform that performs banking transactions electronically without the need for direct human intervention, enhancing efficiency and accessibility.

Calculations

Mathematical processes used to determine the result or solution to a problem.

Surplus

An amount of something left over when requirements have been met; an excess of production or supply over demand.