English to Greek Bus/Financial Economics Βιβλίο Μακροοικονομικής

Money's primary role in the economy comes from the benefits of lowering transactions costs and allowing specialization. This function of money is called
A) store of value.
B) medium of exchange.
C) standard of deferred payment.
D) unit of account.
Answer: B

Από τη wikipedia: A standard of deferred payment is the accepted way, in a given market, to settle a debt – a unit in which debts are denominated. It is one of the defining functions of money; for example, while the gold standard reigned, gold or any currency convertible to gold at a fixed rate constituted such a standard.

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