Question

difference between money of account and proper money ​

Answer 1

Money proper is otherwise known as actual money. Money proper is the money which is in circulation in a country. It is the medium of exchange and means of payment. ... Money of account may change but money proper does not change.

Answer 2

The difference between money of account and proper money was stated by J.M. Keynes. The difference is as follows:

• Money of account is one in which money is maintained in the account. Proper money is the actual money.
• Money of account is a title on the other hand proper money is the answer to the title.
• Proper money is the money that is circulated in the country. Prices of goods and services, general purchasing power, etc. are expressed in terms of money of account.
• Proper money is the medium of exchange and means of payment. On the other hand, Indian Rupees, USA Dollars, etc. are the examples of money of account.