When Economists Refer to the Role of Money as a Standard

question 58

Multiple Choice

When economists refer to the role of money as a standard of deferred payment, they mean that

• A)payments by checks are usually deferred until the checks clear the bank.
• B)money earns interest while loan payments are deferred.
• C)money provides a standard for payments that will occur in the future.
• D)money today is worth less than money tomorrow.

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Definitions:

Occipital Lobe

The region of the brain responsible for processing visual information, located at the back of the skull.

Frontal Lobe

The part of the brain located at the front of each cerebral hemisphere, responsible for behavior, learning, personality, and voluntary movement.

Essential Tremor

A neurological disorder that causes involuntary and rhythmic shaking, affecting mainly the hands but can also impact other parts of the body.

Rest

A period of relaxation, sleep, or inactivity, which is essential for physical and mental rejuvenation.