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JAMB Economics 1999 Question 42

Question 42

Money and Inflation

One of the functions of money is that, it helps

  1. A.detect frauds in matters of exchange
  2. B.postpone payments without loss of count
  3. C.store information about the intrinsic benefits of an item.
  4. D.record information about the valuation of an item.
Show the answer and explanation

Answer: B (postpone payments without loss of count)

Explanation

Money is a standard of deferred payment: debts can be settled later in money of known value.