Economics · Money and Banking
Which of the following statements about money is INCORRECT?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The first and foremost role of money is t hat it acts as a medium of exchange.
- 2Economic exchanges without the mediation of money are referred to as barter exchanges.
- 3The value of all goods and services cannot be expressed in monetary units.✓
- 4Money acts as a convenient unit of account.
Correct answer
The value of all goods and services cannot be expressed in monetary units.
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