Suppose That Transactions Are Conducted in Pesos and Prices Are

question 22

Multiple Choice

Suppose that transactions are conducted in pesos and prices are quoted in dollars.In this case the dollar functions primarily as a

• A)store of value.
• B)unit of account and store of value.
• C)medium of exchange.
• D)unit of account.
• E)medium of exchange and store of value.

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Definitions:

1866

A year significant for multiple historical events, such as the passing of the Civil Rights Act in the United States, establishing rights for African Americans.

Legislative Power

Refers to the authority to make laws and frame public policies.

Executive Power

The authority held by the executive branch of a government, typically vested in a president or prime minister, to enforce laws and manage national affairs.

Judicial Power

The authority given to courts and judges to interpret and apply the law, decide lawsuits, and in some countries, to review the actions of the executive and legislative branches.