When Money Is Used to Measure and Compare the Value

question 17

Multiple Choice

When money is used to measure and compare the value of goods and services, it is used as a

• A) unit of account.
• B) store of value.
• C) medium of exchange.
• D) means of payment.

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Definitions:

Deposits

Funds placed into banking institutions for safekeeping, which can earn interest over time depending on the type of account.

Federal Open Market Committee

The branch of the Federal Reserve System that determines the direction of monetary policy, including decisions on interest rates and the growth of the United States money supply.

Regional Fed Presidents

Officials who head the regional Federal Reserve Banks, playing key roles in monetary policy discussions and implementation in the United States.

Voting

The act of expressing a choice or preference in a public election or decision-making process.