The Functions of Money Are to Serve as a

question 177

Multiple Choice

The functions of money are to serve as a

• A) resource allocator, method for accounting, and means of income distribution.
• B) unit of account, store of value, and medium of exchange.
• C) determinant of consumption, investment, and government spending.
• D) factor of production, exchange, and aggregate supply.

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Definitions:

Procedural Memory

A type of long-term memory responsible for knowing how to do things, such as riding a bicycle or typing, also referred to as muscle memory.

Encoding

The beginning step of converting data into a format suitable for memory storage.

Remembering

The process of retrieving information or experiences from the past, involving various cognitive mechanisms and parts of the brain.

Decoding

The process of interpreting and making sense of a message or symbol system, such as reading or understanding spoken language.