All of the Following Are Roles of Money EXCEPT A

question 382

Multiple Choice

All of the following are roles of money EXCEPT a:

• A)measure of wealth.
• B)medium of exchange.
• C)unit of account.
• D)store of value.

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Definitions:

Excess Quantity

The situation where the supply of a product exceeds the demand for it at a specific price point, leading to a surplus.

Deadweight Loss

A loss of economic efficiency that can occur when the equilibrium for a good or a service is not achieved.

Market Equilibrium

The state in which the supply and demand for a good or service are balanced, leading to a stable price.

Consumer Surplus

The variance between the total price consumers are ready and able to fork over for a good or service and the sum they ultimately pay.