Doug Is Saving Money in Order to Purchase a New

question 106

Multiple Choice

Doug is saving money in order to purchase a new snowboard next winter.This represents using money as

• A)a medium of exchange.
• B)a store of value.
• C)a unit of account.
• D)a medium of deferred payment.
• E)method of barter.

---

Definitions:

Memory System

The complex processes and structures within the brain responsible for encoding, storing, and retrieving information.

Sensory Memory

The shortest-term element of memory, which acts as a buffer for stimuli received through the senses and holds information in its original sensory form for a very brief duration.

Short-Term Memory

A cognitive system with a limited capacity that is responsible for the temporary holding of information available for processing.

Working Memory

A cognitive system with a limited capacity that is responsible for temporarily holding information available for processing.