The functions of money are to serve as a rev: 06_06_2018 Multiple Choice resource allocator, a method for accounting, and a mean

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The functions of money are to serve as a rev: 06_06_2018 Multiple Choice resource allocator, a method for accounting, and a mean

s of income distribution. factor of production, exchange, and aggregate supply. unit of account, a store of value, and a medium of exchange. determinant of consumption, investment, and government spending.

Business

1 answer:

aliina [53] · Answer 1 · 2022-04-27T08:47:08+03:00

Answer:

unit of account, a store of value, and a medium of exchange.

Explanation:

Functions of money

1. Medium of exchange : money can be used to exchange for goods and services. For example, money serves as a medium of exchange when you pay $20 for your favourite jeans

2. Unit of account : money can be used to value goods and services, For example, $20 is the value of your favourite jeans

3. Store of value : money can retain its value over the long term, this it can be used as a store of value