Double Coincidence of Wants Is Avoided If Money Is Used

question 96

Multiple Choice

Double coincidence of wants is avoided if money is used as a:

• A)medium of exchange.
• B)measure of value.
• C)standard of deferred payment.
• D)store of value

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Definitions:

Pension Plan

A retirement savings plan sponsored by an employer, providing a fixed payout to employees upon retirement.

Multiplier

A factor that quantifies the change in economic activity resulting from a change in spending, used in macroeconomic analysis to estimate the effect of investment, government spending, and other economic activities.

Career Average

Indicates the average achievements, earnings, or performance levels over the span of an individual's career.

Social Security

An insurance program available through the United States government that provides income to people who retire, become disabled, or who receive survivor’s benefits.