One of the Functions of Money Is to Serve as A

question 117

Multiple Choice

One of the functions of money is to serve as a:

• A)store of value.
• B)medium of exchange.
• C)unit of account.
• D)All of these are functions of money.

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Definitions:

Gross Domestic Product (GDP)

The total monetary or market value of all the finished goods and services produced within a country's borders in a specific time period.

Political Goods

Services or benefits, such as security and safety, provided by a government to its citizens, which are non-exclusive and cannot be easily provided by the private sector.

Coercive Force

The use or threat of force to persuade someone to act in a certain way, often seen in legal or military contexts.

Private Firms

Businesses owned by private individuals or groups, as opposed to being publicly traded or government-owned.