Money can always function as a store of purchasing power

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Which of the following statements is false? Money can always function as a store of purchasing power, even if its value is relatively unstable. The ease with which an asset can be exchanged for money or other assets is referred to as liquidity. Credit money is any circulating medium which has little intrinsic value relative to its monetary value. In the future, electronic funds transfer systems may be used to such an extent that a virtually checkless society may result.

Reference no: EM13977872

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