Question
When money is accepted as payment in a market transaction, it is functioning as
a medium of exchange
the real interest rate
the velocity of circulation
a store of value
a medium of exchange
the real interest rate
the velocity of circulation
a store of value
Answers
GPT-4o mini
When money is accepted as payment in a market transaction, it is functioning as **a medium of exchange**. This is one of the primary functions of money, allowing it to facilitate transactions by providing a standard method of payment for goods and services.