Sure, let's break down the question step by step:

1. Identify the context: The question is about the role of money in an economy.
2. Understand the key phrase: "Money is accepted as a(n) ___ of ___ because we are confident it will be exchangeable for real goods and services."
3. Recognize the missing terms: We need to fill in the blanks with appropriate economic terms.

Step-by-step reasoning:

1. Money serves several functions in an economy, such as a medium of exchange, a unit of account, a store of value, and sometimes a standard of deferred payment.
2. The phrase "exchangeable for real goods and services" suggests that the function being referred to is related to the ability to trade or exchange.
3. The most fitting term for the first blank is "medium," as money is commonly accepted as a medium of exchange.
4. The second blank should describe what money is a medium of. The term "exchange" fits well here.

Putting it all together:

"Money is accepted as a medium of exchange because we are confident it will be exchangeable for real goods and services."

Question

Sure, let's break down the question step by step:

1. Identify the context: The question is about the role of money in an economy.
2. Understand the key phrase: "Money is accepted as a(n) ___ of ___ because we are confident it will be exchangeable for real goods and services."
3. Recognize the missing terms: We need to fill in the blanks with appropriate economic terms.

Step-by-step reasoning:

1. Money serves several functions in an economy, such as a medium of exchange, a unit of account, a store of value, and sometimes a standard of deferred payment.
2. The phrase "exchangeable for real goods and services" suggests that the function being referred to is related to the ability to trade or exchange.
3. The most fitting term for the first blank is "medium," as money is commonly accepted as a medium of exchange.
4. The second blank should describe what money is a medium of. The term "exchange" fits well here.

Putting it all together:

"Money is accepted as a medium of exchange because we are confident it will be exchangeable for real goods and services."

Knowee AI · Accepted Answer

Sure, let's break down the question step by step:

1. Identify the context: The question is about the role of money in an economy.
2. Understand the key phrase: "Money is accepted as a(n) ___ of ___ because we are confident it will be exchangeable for real goods and services."
3. Recognize the missing terms: We need to fill in the blanks with appropriate economic terms.

Step-by-step reasoning:

1. Money serves several functions in an economy, such as a medium of exchange, a unit of account, a store of value, and sometimes a standard of deferred payment.
2. The phrase "exchangeable for real goods and services" suggests that the function being referred to is related to the ability to trade or exchange.
3. The most fitting term for the first blank is "medium," as money is commonly accepted as a medium of exchange.
4. The second blank should describe what money is a medium of. The term "exchange" fits well here.

Putting it all together:

"Money is accepted as a medium of exchange because we are confident it will be exchangeable for real goods and services."

Money is accepted as a(n) of because we are confident it will be exchangeable for real goods and services.

Question

Money is accepted as a(n) of because we are confident it will be exchangeable for real goods and services.

Solution

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Money is accepted as a(n) of because we are confident it will be exchangeable for real goods and services.

Question

Money is accepted as a(n) ______ of ______ because we are confident it will be exchangeable for real goods and services.

Solution

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Upgrade your grade with Knowee

Money is accepted as a(n) of because we are confident it will be exchangeable for real goods and services.