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Questions and Answers
What is the primary function of money as discussed in the text?
What is the primary function of money as discussed in the text?
- Store of value
- Settling a debt
- Medium of exchange (correct)
- Unit of account
Which function of money refers to the ability to hold it temporarily and exchange it for goods and services later?
Which function of money refers to the ability to hold it temporarily and exchange it for goods and services later?
- Medium of exchange
- Means of payment
- Store of value (correct)
- Unit of account
What would be the consequence if an economy relied solely on barter instead of using money?
What would be the consequence if an economy relied solely on barter instead of using money?
- Lower costs associated with trade
- Increased efficiency in transactions
- Simplified comparison of prices
- Need for a double coincidence of wants (correct)
Which type of money includes currency, traveler's checks, and checking deposits in its definition?
Which type of money includes currency, traveler's checks, and checking deposits in its definition?
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In the context of Bangladesh, what does 'M2' represent?
In the context of Bangladesh, what does 'M2' represent?
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Which function of money allows for easier comparison of the prices of different goods and services?
Which function of money allows for easier comparison of the prices of different goods and services?
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