Multiple Choice Questions on ldquo Money is what money does rdquo Who said it ........ for Common University Entrance Test (CUET) Preparation

Money and banking

Economics (CUET)

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Indian Economy - Understanding the basics of Indian economic system

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    “Money is what money does.” Who said it ?

    Hartley Withers

    Correct Answer

    Hawtrey

    Incorrect Answer

    Thomas

    Incorrect Answer

    Keynes

    Incorrect Answer
    Explanation:

    Money is anything that acts as a medium of exchange. Money is accepted by a seller in exchange of his goods and services. It also acts as a common measure of value.
    Following are the different definitions of money as given by various people, According to Prof. F.A. Walker, "Money is what money does". This definition emphasises on the different functions of money. That is, it defines money according to the various functions it performs such as being store of value or being the standard of deferred payment, etc.


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