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Author Question: List and define the three functions of money. What will be an ideal ... (Read 74 times)

fahad

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List and define the three functions of money.
 
  What will be an ideal response?

Question 2

A change in the price level ________ the AE curve and ________ the AD curve.
 
  A) results in a movement along; shifts
  B) shifts; results in a movement along
  C) shifts; shifts
  D) has no effect on; results in a movement along
  E) results in a movement along; results in a movement along



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xMRAZ

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Answer to Question 1

The three functions of money are a medium of exchange, a unit of account, and a store of value. A medium of exchange is an object that is generally accepted in exchange for goods and services. A unit of account is an agreed upon measure for stating the prices of goods and services. A store of value is anything that can be held and later exchanged for goods and services. Money serves all three of these functions.

Answer to Question 2

B




fahad

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Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review


phuda

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Reply 3 on: Yesterday
Excellent

 

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