The function of money that expresses prices and contracts for deferred payments in terms of the monetary unit is referred to as
A) store of purchasing power
B) standard of value
C) medium of exchange
D) credit money

Question

Quizplus · Accepted Answer

The function of money that expresses prices and contracts for deferred payments in terms of the monetary unit is referred to as standard of value. This function allows for consistency and reliability in pricing goods and services, and in making contracts for future payments. Money serves as a common denominator and measuring stick for value.

The Function of Money That Expresses Prices and Contracts for Deferred