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7 October, 20:29

When you gave your friend a fifty-dollar bill for an iPod, you used money as:

A. a standard

B. store of value

C. medium of exchange

D. measure of value

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Answers (1)
  1. 7 October, 22:27
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    Answer: Medium of exchange.

    Explanation:

    The $50 is given in exchange for an iPod, therefore in the question's illustration money serves as a medium of exchange. Money as a medium of exchange means that money is needed when conducting business transactions that involves buying and selling.
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