Functions of Money Include All of the Following EXCEPT

question 66

Multiple Choice

Functions of money include all of the following EXCEPT:

• A)Money serves as a medium of exchange.
• B)Money may be held as a store of value.
• C)Money determines the wealth of a nation.
• D)All of the above are functions of money.

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Definitions:

Arbitrage

A means to defeat a price discrimination scheme; it occurs when low-value individuals are able to resell their lower-priced goods to the higher-value group.

Low-value Group

A segment of the market or population perceived to have less purchasing power or economic importance.

Direct Price Discrimination

A pricing strategy where a seller charges different prices to different customers for the same product or service, based explicitly on the customer's willingness to pay.

Indirect Price Discrimination

A pricing strategy where different prices are charged for the same product or service in different markets or segments, not directly by customer characteristics.