This topic contains a solution. Click here to go to the answer

Author Question: List and define the three functions of money. What will be an ideal ... (Read 22 times)

fahad

  • Hero Member
  • *****
  • Posts: 570
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



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

xMRAZ

  • Sr. Member
  • ****
  • Posts: 363
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

  • Member
  • Posts: 570
Reply 2 on: Jun 29, 2018
Excellent


Laurenleakan

  • Member
  • Posts: 309
Reply 3 on: Yesterday
:D TYSM

 

Did you know?

Addicts to opiates often avoid treatment because they are afraid of withdrawal. Though unpleasant, with proper management, withdrawal is rarely fatal and passes relatively quickly.

Did you know?

Over time, chronic hepatitis B virus and hepatitis C virus infections can progress to advanced liver disease, liver failure, and hepatocellular carcinoma. Unlike other forms, more than 80% of hepatitis C infections become chronic and lead to liver disease. When combined with hepatitis B, hepatitis C now accounts for 75% percent of all cases of liver disease around the world. Liver failure caused by hepatitis C is now leading cause of liver transplants in the United States.

Did you know?

Colchicine is a highly poisonous alkaloid originally extracted from a type of saffron plant that is used mainly to treat gout.

Did you know?

Liver spots have nothing whatsoever to do with the liver. They are a type of freckles commonly seen in older adults who have been out in the sun without sufficient sunscreen.

Did you know?

Of the estimated 2 million heroin users in the United States, 600,000–800,000 are considered hardcore addicts. Heroin addiction is considered to be one of the hardest addictions to recover from.

For a complete list of videos, visit our video library