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Question
Which money is used to settle debts or make payment in future, it is said to perform the function of:
Options
Standard of deferred payment
Medium of exchange
Transfer of value
Store of value
Solution
Standard of deferred payment
Explanation:
Deferred payments refer to those payments which are to be made in future. In a modern economy, a large number of transactions involve future payments which can easily be stated in terms of money.
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RELATED QUESTIONS
Which of the following is a contingent function of money?
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| Column A | Column B | ||
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