3 functions of money -store of value (take value today, store it for later no expiration date) -Unit of Account (measurable tool, consistent terms, prices are quoted and debt recored) -Medium of Exchange (use to exchange for other goods that people are willing to accept. Highly liquid, ...
The Definition of Money The Importance of Money The Functions of Money The Demand for Money The Supply of Money United States Money Supply Demand and Suppl…
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Study with Quizlet and memorize flashcards containing terms like Barter (requires a double coincidence of wants), Double coincidence of wants, Money serves society in 4 functions... and more.
A financial Institution that acts as an intermediary between borrowers and savers Types Of Banks Commercial Bank Central Bank Functions Of Central Bank -Lender Of Last Resort -Issues Money -Manages All Payments Relating To The Government -Manages National Debt ...
storehouse of value which of these functions of money allows people to save their money to use in the future storehouse of value 最好的學習方式。免費註冊。 註冊代表你接受Quizlet的服務條款和隱私政策 以Google帳戶繼續
The ability of an asset that functions as money to retain its purchasing power over time. Unit of Account An agreed-upon method of placing relative value on assets. medium of exchange A good that is accepted by both sides in a transaction. surplus unit economic units whose income exceeds spe...
3 functions of money 1. medium of exchange 2. unit of account 3. store of value REPOs definition repurchase agreements Federal Funds overnight bank to bank borrowing of reserves Money definition Anything that is generally accepted as currency ...
Functions of money money as a medium of exchange is accepted by everyone; this acceptance comes from trust in our government/Fed and it avoids the first problem of bartering -- double coincidence of wants bc you can trade money Medium of exchange money must retain it's value if we use it...
Example of Fiat money Lion dollars, Bitcoinno use outside of its use as money What are the 3 functions of Money? 1. Medium of Exchange- trade without money a "coincidence of wants" money increases specialization 2. Unit of Account- keep track of debts, compare the value of different good...