The Medium-Of-Exchange Function Means That Money Is Used

question 122

Multiple Choice

The medium-of-exchange function means that money is used:

• A) as the common denominator of prices.
• B) as the common denominator of future payments.
• C) to pay for goods and services.
• D) to accumulate purchasing power.

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Definitions:

Structural Level

An analysis or approach focusing on the arrangement and organization of components within a system.

Cultural Diversity

The existence of a variety of cultural or ethnic groups within a society, organization, or community.

Cognitive Dissonance

The mental discomfort experienced by an individual who holds two or more contradictory beliefs, ideas, or values at the same time.

Structural Change

Major shifts or alterations in the organizational, economic, or social framework of an entity or society.