If Money Is Used as a Mechanism to Hold Purchasing

question 114

Multiple Choice

If money is used as a mechanism to hold purchasing power for a period of time it is functioning as a

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

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Definitions:

Prediction

The act of forecasting or determining the likelihood of future events or outcomes based on current or past data.

Theory

A system of ideas intended to explain something, based on general principles independent of the thing being explained.

Knowledge

Information, understanding, or skill that a person acquires through experience or education.

Common Sense

General knowledge or beliefs commonly held by a group of people, considered as basic understanding without specialized insight.