Question 1
Why do banknotes function as money?
A
They are backed by gold.
B
They are durable.
C
They are generally acceptable.
D
They have intrinsic value.
Question 2
[Maximum number: 1]
What is the function of money when it is used to value goods and record transactions?
A
a medium of exchange
B
a standard of deferred payment
C
a store of wealth
D
a unit of account
D
Question 3
What is not a form of money?
A
a banknote
B
a cheque
C
a coin
D
a credit card
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