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Economics (AS & A Level) · Oct / Nov 2024 · Paper 31 · Question 16

9708Money and banking

Which statement about money is correct?

  1. AIt consists solely of deposits held by commercial banks.
  2. BIt functions as a medium of exchange.
  3. CIts monetary value equals its production costs.
  4. DIt operates only when there is a double coincidence of wants.

As printed in the paper

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Correct answer: B. It functions as a medium of exchange.

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