The three functions of money are medium of exchange,

The three functions of money are medium of exchange,
 a. measure of value, and standard of value.
  b. measure of value, and store of value.
  c. standard of value, and store of value
  d. medium of value, and store of value.
  e. measure of value, and deferred value.

QUESTION 2

The economic system that has the benefit of cooperation among individuals but suffers from a lack of individual initiative that leads to greater production describes the:
 a. market economy. b. command economy
  c. soviet economy. d. traditional economy.

QUESTION 3

In the aggregate expenditures model, equilibrium occurs if:
 a. consumption equals investment.
 b. inventory equals investment.
 c. aggregate expenditures equal consumption.
 d. aggregate expenditures equal disposable income.

QUESTION 4

Currency consists of:
 a. coins and Eurodollars.
  b. paper money and checks.
  c. coins and paper money.
  d. paper money and Eurodollars.
  e. coins and checks.

QUESTION 5

The economic system that answers the What, How and For Whom questions using prices determined by the interaction of supply and demand is a:
 a. market economy. b. command economy
  c. soviet economy. d. traditional economy.