Answer to Question #299846 in Macroeconomics for Yaya

Question

Which of the following statements is/are correct?

a. In inflationary times the function of money as a store of value is undermined.

b. An individual’s income will always be equal to the amount of money he or she possesses.

c. The most basic function of money is that it serves as a medium of exchange.

[1] All the statements are correct.

[2] a and b

[3] a and c

[4] b and c

[5] a

Answer 1

[3] a and c