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Question

Which of the following are features of money?
  1. Medium of exchange and unit of account.
  2. Medium of exchange, unit of account, and store of value.
  3. Medium of account and store of value
  4. Store of value and unit of account.

A
Medium of exchange, unit of account, and store of value.
B
Medium of account and store of value
C
Store of value and unit of account.
D
Medium of exchange and unit of account.
Solution
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Money is defined by the functions it serves. Money serves as a medium of exchange, as a store of value, and as a unit of account. Medium of exchange. Money's most important function is as a medium of exchange to facilitate transactions.

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