What are the three important functions of money? Define each of them.
Question:
What are the three important functions of money? Define each of them.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 80% (5 reviews)
Money functions as a A medium of exchange b A unit of account c A store of value A medi...View the full answer
Answered By
SUMAN DINDA
I LIKE TO TEACH STUDENTS. SO, I START MYSELF AS A PRIVATE TUTOR. I TEACH STUDENTS OF DIFFERENT CLASSES. I HAVE ALSO DONE BACHELOR OF EDUCATION DEGREE(B.ED). DURING THIS COURSE I HAD TO TEACH IN A SCHOOL. SO I HAVE A GOOD EXPERIENCE IN TEACHING.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Economics A Contemporary Introduction
ISBN: 9781305505469
11th Edition
Authors: William A. McEachern
Question Posted:
Students also viewed these Business questions
-
Investigate important economic risk event since the year 2000 and summarize them
-
Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
-
List three specific parts of the Case Guide, Objectives and Strategy Section (See below) that you had the most difficulty understanding. Describe your current understanding of these parts. Provide...
-
BP is one of the largest international companies in the oil & gas industry. The company has transactions denominated in several currencies. Being a British company, the domestic currency used for...
-
Explain the differences among styles, fashions, and fads and give an example of each.
-
Two graduate students are engaged to one another, and both are working on their master's theses-Michael in music education and Kristen in political science. Because both have incomes that are tied to...
-
The following plot of the voltage output from a VFD illustrates why the total 600 V is always present in the common-mode voltage from the source. What is the common-mode voltage of utility power? 0.5...
-
Simmons Corp. can borrow from its bank at 17 percent to take a cash discount. The terms of the cash discount are 1.5/10, net 45. Should the firm borrow the funds?
-
1). Do you think that other LDCs could pursue export-led growth strategies as effectively as the East Asian NIEs? 2). What political factors do you believe explain different success rates in the use...
-
If an economy had only two goods (both nondurable ), there would be no need for money because exchange would always be between those two goods. What important function of money does this statement...
-
Without money, everything would be more expensive. Explain this statement.
-
You have overheard the following statements: (a) The role of independent auditors is to prepare the financial statements of the company. (b) International Accounting Standards (IASs) apply to all UK...
-
Cilca Corporation is a supplier to the pulp and paper industry. Selected financial information about Cilca is listed below: Purchased real estate for $ 4 4 0 , 0 0 0 in cash. The cash was borrowed...
-
On January 1 , 2 0 1 2 , Harrison's, Inc., borrowed $ 9 0 , 0 0 0 at 1 2 % payable annually to finance the construction of a new building. The building was completed December 3 1 , 2 0 1 2 . In 2 0 1...
-
Ov W X O Z 10. (03.05 MC) Use the graph to answer the question that follows. Price level X LRAS Y W AD1 Z SRAS AD2 AD3 Real GDP At which point on the graph is the economy producing output in...
-
On March 1, Year 1, a company issued 12% bonds, dated March 1, with a face amount of $720,000. . The bonds sold for $714,000 and mature on February 28, Year 21 (20 years). Interest is paid...
-
As technology frees people from the constraints of biology and the economy becomes more focused on information production, it makes less and less sense for men and women do perform specific...
-
Accepting the absolute income hypothesis, would you expect the MPC in the U.S. economy in 2011 to be higher, lower, or about the same as the MPC in the Haitian 2011 economy? Why? How would it compare...
-
Suppose you are comparing just two means. Among the possible statistics you could use is the difference in means, the MAD, or the max min (the difference between the largest mean and the smallest...
-
Explain the relationship between the price elasticity of demand and total revenue.
-
Determine whether each of the following statements is normative or positive: a. The U.S. unemployment rate was 6.2 percent in 2014. b. The inflation rate in the United States is too high. c. The U.S....
-
Whats the difference between shutting down and going out of business?
-
What are the primary reason(s) for completing a financial spread analysis for a company?
-
1. What are the four (4) pillars of international trade finance? 2. How do banks differ from EFAs and IFIs? 3. Please explain and describe three (3) international trade finance risks. Make sure to...
-
Have you ever used financial documents, such as tax returns and financial statements, to make a personal or business decision? Explain. What terms or concepts come to mind when you think about...
Study smarter with the SolutionInn App