One Major Advantage of the Medium of Exchange Function of Money

question 174

Multiple Choice

One major advantage of the medium of exchange function of money is that it allows society to:

• A)transfer purchasing power from the present to the future.
• B)measure the relative worth of products.
• C)escape the complications of barter.
• D)use credit cards instead of currency.

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Definitions:

Cultures

The shared values, norms, languages, customs, and practices of groups of people that shape their social behavior and perspectives.

Complex

A related group of emotionally charged ideas, memories, and impulses that are deeply rooted in the unconscious mind.

Difficult to Grasp

Describes concepts, objects, or ideas that are not easily understood or comprehended.

Openness

A personality trait that features qualities like intellectual curiosity, creativity, preference for novelty, and a wide range of interests.