Which of the Following Defines the "Medium of Exchange" Function

question 26

Multiple Choice

Which of the following defines the "medium of exchange" function of money?

• A) To provide a common measurement of the relative value of different goods and services.
• B) The ability of money to hold value over time.
• C) The materials used manufacture money are of medium grade so that people will not hoard money for its commodity value.
• D) Money that is widely accepted in exchange for goods and services.

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Definitions:

GI Bill Of Rights

U.S. legislation passed in 1944 to provide benefits to World War II veterans, including funding for education, home loans, and unemployment benefits.

Bretton Woods Conference

International meeting held in the town of Bretton Woods, NewHampshire, in 1944 in which participants agreed that the American dollar would replace the Britishpound as the most important international currency. The conference also created the World Bank andInternational Monetary Fund to promote rebuilding after World War Ⅱ and to ensure that countriesdid not devalue their currencies.

Financial Leader

An individual or entity recognized for their influence and innovation in the financial sector, including banking, investments, and economic policy.

World War II

A global conflict that lasted from 1939 to 1945, involving many of the world's nations and resulting in significant geopolitical changes and the establishment of the United Nations.