Question

24. According to classical economist, which
of the following function of money is
important in determining value of money?
(1 Point)
a. Medium of exchange
O b. Store of value
O c. Unit of account
O d. Standard of deferred payments​

Answer 1

Explanation:

a. medium of exchange bechari ko hardik badhai HDD ha study BCC

Answer 2

Answer:

a. Medium of exchange

Explanation:

According to classical economists, the medium of exchange of money is important to determine the value of the money. The medium of exchange is function important function because classical economists believe that anything that is used to exchange goods is termed money. In the past times, there were many mediums of exchange like metals, stones, grains, and cattle. All of these things are used to exchange goods and services. Hence, according to classical economists, these are termed money.

Hence, the medium of exchange is the function of money.

Option (b) is not correct because it is not the function of money according to classical economists.

Option (c) is not correct because it is not the function of money according to classical economists.

Option (d) is not correct because it is not the function of money according to classical economists.

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