Which of the Following Functions of Money Enables Society to Gain

question 197

Multiple Choice

Which of the following functions of money enables society to gain the benefits of geographic and labor specialization?

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

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Definitions:

Federal Budget Deficits

Occurs when a government's total expenditures exceed the revenue that it generates, excluding debt from previous years.

Discretionary Fiscal Policy

Discretionary fiscal policy involves government actions to influence economic activity through changes in taxation and spending policies, distinct from automatic fiscal stabilizers.

GDP

Gross Domestic Product represents the total value, in monetary terms, of all finished goods and services made within a country's boundaries over a defined period.

Unemployment Benefits

Financial payments given to individuals who have lost their jobs, intended to provide a source of income while they search for new employment.