Which of the following statements about the functions of money is true?(1 point)

Question

Responses

Money is primarily used for saving wealth.
Money is primarily used for saving wealth.

Money does not help in facilitating trade.
Money does not help in facilitating trade.

Money serves three essential functions: medium of exchange, store of value, and unit of account.
Money serves three essential functions: medium of exchange, store of value, and unit of account.

Money can only serve as a medium of exchange.

Answer 1

The true statement about the functions of money is:

Money serves three essential functions: medium of exchange, store of value, and unit of account.

This statement accurately reflects the primary functions of money in an economy.