Any Item That People Can Use to Transfer Purchasing Power

question 45

Multiple Choice

Any item that people can use to transfer purchasing power from the present to the future is called

• A)a medium of exchange.
• B)a unit of account.
• C)a store of value.
• D)None of the above is correct.

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Definitions:

Sigmund Freud

A neurologist from Austria who initiated the method of psychoanalysis, which is a therapeutic technique used to address mental disorders through conversational interactions between a psychoanalyst and their patient.

Serial-Position Effect

A phenomenon in memory that suggests that when learning a list, people tend to remember the first and last items better than those in the middle.

Alphabet

A set of letters or symbols in a fixed order used to represent the basic sounds of a language, particularly for writing.

Mnemonic Devices

Techniques a person can use to help them improve their ability to remember something, often by associating patterns, such as letters or associations, with the information being memorized.