Question

Select the correct answer from each drop-down menu.

Choose the correct term to complete each sentence.

                                                Functions of Money
Jeffrey has had a busy day. Today he went to a financial manager to begin planning for his son’s future. He opened a college savings account. This is an example of a ___.

Next, he goes to the store to buy several items. He sees that beef costs $4.99 per pound, while eggs cost $2.50 per dozen. Both are good sources of protein; and the eggs will provide two meals while the beef will only provide one. Jeffrey is comparing each item’s ___.

At the cashier, he trades $25.09 for the eggs, vegetables, bread, milk, and potato chips. The money in his wallet is used as a ___.


medium of exchange
unit of account
store of value
fiat money

Answer 1

Explanation:

I got it right on the test

Answer 2

The first one is "unit of account".

The second one is "store of value".

The third one is "medium of exchange".