5 Questions
What is the function of money as a store of value?
It allows transfer of purchasing power from present to future
What is the characteristic of fiat money?
It has no intrinsic value and is established as money by government decree
What is commodity money?
Money with intrinsic value like gold
What is the gold standard in the context of money?
A system where paper money is redeemable for gold
What is the function of money as a unit of account?
It provides the terms in which prices are quoted and debts are recorded
Test your knowledge of money supply and the functions of money with this quiz. Explore the concepts of money as a store of value and a unit of account, and gain a deeper understanding of its role in the economy.
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