The three functions of money are medium of exchange,
a. measure of value, and standard of value.
b. measure of value, and store of value.
c. standard of value, and store of value
d. medium of value, and store of value.
e. measure of value, and deferred value.
Question 2
The economic system that has the benefit of cooperation among individuals but suffers from a lack of individual initiative that leads to greater production describes the:
a. market economy. b. command economy
c. soviet economy. d. traditional economy.
In 2008, the U.S. economy suffered a gaping wound as several trillion dollars were ripped out of it.
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