The Three Basic Functions of Money Are

question 243

Multiple Choice

The three basic functions of money are

• A)fiat,seigniorage,and debt.
• B)a medium of exchange,a store of value,and a unit of account.
• C)a standard of pay,a coincidence of wants,and a measure of the value of time.
• D)demand deposits,other checkable deposits,and time deposits.

---

Definitions:

Pot Size

The volume or capacity of a pot, typically used in gardening or cooking contexts to indicate the amount it can hold.

Favorable Market

A market condition characterized by high demand, low supply, or other factors that can lead to advantageous selling or buying opportunities.

Equally Likely

A criterion that assigns equal probability to each state of nature.

Large Factory

A facility used for manufacturing or production on a large scale, often employing many workers and utilizing numerous machinery and equipment.