Most Financial Assets Other Than Money Function as

question 74

Multiple Choice

Most financial assets other than money function as

• A)a medium of exchange,a unit of account,and a store of value.
• B)a medium of exchange and a store of value,but not a unit of account.
• C)a store of value and a unit of account,but not a medium of exchange.
• D)a store of value,but not a unit of account nor a medium of exchange

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Definitions:

Unit Elasticity

Demand or supply for which the elasticity coefficient is equal to 1; means that the percentage change in the quantity demanded or quantity supplied is equal to the percentage change in price.

Quantity Demanded

The total amount of goods or services that consumers are willing and able to purchase at a given price.

Price Elasticity

The degree to which demand for an item is affected by changes in its cost.

Quantity Demanded

The total amount of a product that consumers are willing and able to purchase at a given price.