Question
The three functions of money are:a. Liquidity, store of value, and gifting.b. Medium of exchange, unit of account, and liquidity.c. Liquidity, unit of account, and gifting.d. Medium of exchange, unit of account, and store of value.
Step 1
Money serves several key functions in an economy: it acts as a medium of exchange, a unit of account, and a store of value. - **Medium of exchange**: Money is widely accepted in exchange for goods and services. Without money, people would have to engage in Show more…
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